AUD/JPY struggles at 82 resistance, sell rallies, target 80.50
We see strong resistance for AUD/JPY at 82.0 levels, multiple rejections seen at that level.
The pair has edged lower after rejection at 82.01 and is currently trading around 81.52 levels.
Techs on hourly charts biased lower:
- 5-DMA bearish crossover on 10-DMA
- Stochs and RSI rolledover from overbought territory, point south
- MACD histogram below zero with bearish MACD line crossover on signal line
Supports on the downside located at 81.15 (session lows Feb 15th), 81.00 (session lows Feb 18th), 80.46 (session lows Feb 16th).
Good to sell rallies around 81.60, SL: 82.10, TP: 81.15/ 81/80.50
The pair has edged lower after rejection at 82.01 and is currently trading around 81.52 levels.
Techs on hourly charts biased lower:
- 5-DMA bearish crossover on 10-DMA
- Stochs and RSI rolledover from overbought territory, point south
- MACD histogram below zero with bearish MACD line crossover on signal line
Supports on the downside located at 81.15 (session lows Feb 15th), 81.00 (session lows Feb 18th), 80.46 (session lows Feb 16th).
Good to sell rallies around 81.60, SL: 82.10, TP: 81.15/ 81/80.50
Trade closed: target reached:
Book full profits and exit trade.
We see scope for long trade now. Wait for next update.
We see scope for long trade now. Wait for next update.