FxWirePro
Short

AUD/JPY breaks below channel base, good to sell rallies

FX:AUDJPY   Australian Dollar/Japanese Yen
218 1 4
AUD/JPY             has broken below channel base support at 86.70 and is currently trading at 86.40, down around 1.5 % this session till now.

Daily Stochs and RSI are biased lower, channel base breach opens to 85.31 68.1% Fib retrace of 81.97 to 90.72 rise.

The Japanese Yen             is seen as a beneficiary of safe haven flows today as soft Caixin China Mfg             PMI dents risk appetite, while the Antipodeans are struggling to make a comeback.

Immediate support is seen at 86.21 ( Dec             18 lows), while resistance on the upside is located at 86.86 (Sept 18 high).

We find it good to sell rallies around 86.70 levels, SL: 87.55, TP: 85.40
Trade closed: target reached
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