FxWirePro: Bearish RSI divergence on AUD/JPY, go short on break below 20-DMA at 86.38

• AUD/JPY slips below 5-DMA, intraday bias neutral.
• Bearish RSI divergence seen on daily charts.
• Strong support lies at 86.38 which is 20-day MA. 
• Break below will confirm bearish reversal trend.

Support levels - 86.38 (20-DMA), 85.35 (cloud top), 85.20 (Jan 31 low), 84.46 (23.6% Fib retrace of 72.437 to 88.176 rally)

Resistance levels - 87.44 (session high), 88 (psychological level), 88.20 (rising trendline)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish                 Neutral       
4H          Bearish                Neutral       
1D          Neutral                Neutral        
1W         Bullish                 Neutral      

Recommendation: Good to go short on break below 86.38 (20-DMA),  SL: 87.40, TP: 86/ 85.35/ 85/ 84.46 

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 105.09(Bullish), while Hourly JPY Spot Index was at -13.7328 (Neutral) at 0530 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.