AUD/JPY eyes 200-DMA on trendline break, stay short
AUD/JPY extending declines after failing at 100-DMA on March 31st trade.
Break below major trendline at 83.75 has opened scope for test of 200-DMA at 81.75.
Weekly charts highly bearish, RSI and Stochs steeply inclined lower.
Next immediate support is seen 83.16 (Nov 28 low), and immediate resistance is seen at 84.69 (5-DMA).
Good to go short on rallies, SL: 84.50, TP: 83.15/ 82.50/ 82.15/ 81.75
Break below major trendline at 83.75 has opened scope for test of 200-DMA at 81.75.
Weekly charts highly bearish, RSI and Stochs steeply inclined lower.
Next immediate support is seen 83.16 (Nov 28 low), and immediate resistance is seen at 84.69 (5-DMA).
Good to go short on rallies, SL: 84.50, TP: 83.15/ 82.50/ 82.15/ 81.75
Kommentera:
AUD/JPY is holding above 200-DMA support at 81.95.
Break below could see test of trendline at 81.50.
Break below could see test of trendline at 81.50.
Price has retraced from lows at 83.14.
Bias lower, book partial profits, hold for downside.