- The AUD/JPY is hanging near the 80.00 handle to kick off the new week after last week’s bullish recovery saw a sharp pullback on rising trade concerns.
- The Aussie is unlikely to receive much long-side support this week as market sentiment remains subdued.
- Mid-term traders will be looking for a moderate bounce off the 200-hour EMA before the bearish correction continues.
AUD/JPY Chart, 1-Hour
| Spot rate | 80.07 |
| Relative change | Negligible |
| High | 80.18 |
| Low | 79.95 |
| Trend | Bearish |
| Support 1 | 79.93 (200-hour EMA) |
| Support 2 | 79.49 (61.8% Fibo retracement level) |
| Support 3 | 78.76 (previous week low) |
| Resistance 1 | 80.20 (50-hour EMA) |
| Resistance 2 | 80.80 (previous week high) |
| Resistance 3 | 81.00 (major technical level; key figure) |
Share
