FxWirePro

AUD/JPY Short term Outlook

Short
FX:AUDJPY   Australian Dollar / Japanese Yen
1
AUD/JPY has made a high of 98.29 ( 50% retracement of 101.34 and 95.20) and is retreating from this level.
Short term trend is weak as long as resistance 98.30 holds. On the upside break above 98.30 would extend gain to 99/100.02 in short term.
The pair’s minor support is around 96.75 and any break below will target 96.35/95.80.

Indicators (hourly chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell AUD/JPY around 97.65-70, SL 98.31, Target 95.80