Friday, October 2, 2015

AUD/JPY downside open below key MA's

FXStreet (Guatemala) - AUD/JPY is currently trading at 84.18 with a high of 85.06 and a low of 83.91.

AUD/JPY has followed suit of the Yen crosses as the BoJ signals that there is no need for further easing propelling the Yen forward across the board. The price has not shown any signs of retreat yet on the hourly sticks and puts the 84 handle under pressure.

The data overnight from China gave the Aussie a boost, but struggled at the 200 SMA until a break and stops allowed room to the 0.7080 resistance where supply pressured the major commodity back to the 200 SMa again, leaving the cross exposed to downside pressures.

AUD/JPY levels

Technically, AUD/JPY is trading with plenty of bearish bias, below key MA's on the hourly chart and key levels below the 20 DMA on the daily chart at 84.74 and 200 DMA at 84.47 with hourly MACD turning more negative and RSI (14) on the 4hr hr 36, with further downside to go until oversold.
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