AUD/JPY has made a temporary top around 102.82 and is retreating from that level. The AUD/JPY Major support is around 98 and any break below would take the pair to 95.93/95 in short term. The pair will reach 91.75 bottom formed on Oct 10th 2013 once it breaks 95 level.
The pair’s minor resistance is around 99.10 (9 WEMA) and any break of will target 99.61 /100.02. Short term trend reversal only above 101.35.
Long term bearish invalidation-102.85.
The long term trend of the pair is weak as long as resistance 101.35 is intact. The AUD/JPY is on downside bias and dip till 95 is possible.
Recommendation: Sell AUD/JPY around 98.05-15, SL 99.61, Target 95.02
The pair’s minor resistance is around 99.10 (9 WEMA) and any break of will target 99.61 /100.02. Short term trend reversal only above 101.35.
Long term bearish invalidation-102.85.
The long term trend of the pair is weak as long as resistance 101.35 is intact. The AUD/JPY is on downside bias and dip till 95 is possible.
Recommendation: Sell AUD/JPY around 98.05-15, SL 99.61, Target 95.02
