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FxWirePro: AUD/JPY extends downside for 3rd straight session, eyes 100-dma at 87.19

AUD/JPY extends downside for 3rd straight session, eyes 100-dma at 87.19

  • AUD/JPY is extending downside for 3rd straight session after rejection at 78.6% Fib.
  • The pair has closed below 5-DMA at 88.55, intraday bias is turning bearish.
  • The pair has retraced above 200W SMA at 88.04, and a decisive weekly close below could see some reversal.
  • 20-DMA at 87.48 is immediate support, breach there will see test of 100-DMA at 87.19 ahead of 86.69 (Oct 31 low).
  • On the flipside, breakout at 78.6% Fib to see test of 89.62 (88.6% Fib) ahead of 90.30 levels (Sept 21 and 2017 high).

Support levels – 87.48 (20-DMA), 87.19 (100-DMA), 87.01 (cloud top)

Resistance levels – 88.03 (converged 200W SMA and 61.8% Fib of 90.305 to 84.349 fall), 88.41 (5-DMA), 89.03 (78.6% Fib retrace of 90.305 to 84.349 fall)

 

Source: FXWire Technicals

 

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