On the contrary, the current prices have jumped above well above 7DMA.
Leading oscillators diverge the previous upswings at this ,
During convincing rallies of AUDJPY bears restrained back at 85.865 (day high), so thereby bull rallies began on 1st March are now experiencing weakness by losing momentum to signify long term bear trend strength.
You can very well figure out from the monthly chart that the attempts of recovery in this month has hindered at 7EMA showing weakness at resistance 86 levels as the strong supply zones.
Thus, any breach of the above stated (86.007) would decide the direction of next trend on either side but speculators can still make money using below strategy in the range of 84-86 levels as it has been lingering in that range from last 15-20 days.
1D AUDJPY ATM IVs are spiking at almost 18%, risk averse bulls should wait for breach of 86.007 to initiate fresh longs, otherwise sideway trend that has been persisting from last two weeks or so may still prolong.
Subsequently, the trade strategy for risk averse would be the cash-or-nothing binary instruments using boundaries options on speculation basis.
Well, on intraday basis, buy cash-or-nothing options using boundary binaries with upper strikes at around 85.772 and lower strikes at around 85.447 levels, its been oscillating in this range from last 30 minutes charts.
The trading between these strikes would derive certain yields in this puzzling trend and more importantly these yields are exponential from spot FX.
For cash or nothing, these options would be exercised if the forward prices to remain between both strikes (i.e. 85.772> Fwd price > 85.447).