Forex: AUD/JPY capped below 83.00

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Forex: AUD/JPY capped below 83.00

FITITOL--> FXstreet.com (Barcelona) - AUD/JPY is currently bouncing at 82.82 from day lows 82.37 near NY open, and retreating from day highs around 83.29 near London open. The cross is flat since yesterday's Asia-Pacific open, and lower for the week by some -1.47%, with both Aussie moving down and Yen moving up.

According to Fan Yang, CMT at FXTimes: “If the slide extends, the 200-SMA can provide brief support near the 81.00 handle, but a more important resistance area lies just above the 80 handle,” Mr Yang says, adding: “The 4H AUD/JPY chart is confirming the bearish outlook. Also the RSI reading has tagged 30, and shows bearish momentum established after a period of sideways momentum when it was stuck roughly between 40 and 60.”

Immediate resistance to the upside for AUD/JPY shows at April 30 lows 82.98, followed by yesterday's high 83.29, and Friday's lows 83.45. For the downside, closest support comes at yesterday's lows 82.37, followed by Tuesday's lows 82.08, and Feb 01 highs 81.87.