The Japanese yen remains strongly bid across the board amid risk-averse market conditions.
AUD little changed after Reserve Bank of Australia minutes failed to provide any indication of future interest rate moves.
AUD/JPY has broken below major trendline support at 77.50 and hit 7-day low at 77.09.
Intraday bias lower. Technical indicators on daily charts support downside. Momentum studies are bearish.
50-DMA at 77.95 is stiff resistance on the upside, while 76.50 (double bottom 2,3 Aug) is strong support on the downside.
Good to sell rallies around 77.25/35, SL: 77.80, TP: 77/ 76.50/ 76.35
AUD little changed after Reserve Bank of Australia minutes failed to provide any indication of future interest rate moves.
AUD/JPY has broken below major trendline support at 77.50 and hit 7-day low at 77.09.
Intraday bias lower. Technical indicators on daily charts support downside. Momentum studies are bearish.
50-DMA at 77.95 is stiff resistance on the upside, while 76.50 (double bottom 2,3 Aug) is strong support on the downside.
Good to sell rallies around 77.25/35, SL: 77.80, TP: 77/ 76.50/ 76.35
Trade closed: target reached