AUD/JPY remains on the back foot near multi-month lows. 10-day SMA offers immediate resistance amid bearish MACD. Oversold RSI conditions challenge further selling below the short-term key support line. AUD/JPY seesaws around 69.00, following the intra-day low of 68.82, amid the initial Asian session on Monday. It should be noted that AUD/JPY is considered as the market’s risk barometer and registers declines during times of uncertainty/pessimism. The current fall seems to have taken its clues from the coronavirus (COVID-19) fatalities inside the key global economies. The pair’s sustained trading below 10-day SMA defies Friday’s Doji candlestick formation while signaling further downside. In doing so, a descending trend line since January 31, 2020, at 68.28 now, grabs the bears’ attention. However, the quote’s further declines are likely to be challenged by oversold RSI conditions, which if ignored could drag the quote to April 2009 low near 68.15. Alternatively, a sustained break above 10-day SMA level of 70.57 can avail the monthly top near 71.52 as the next target ahead of confronting the January month low near 72.45. AUD/JPY daily chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Australian Treasurer Frydenberg: Details of fiscal response to virus being finalised FX Street 3 years AUD/JPY remains on the back foot near multi-month lows. 10-day SMA offers immediate resistance amid bearish MACD. Oversold RSI conditions challenge further selling below the short-term key support line. AUD/JPY seesaws around 69.00, following the intra-day low of 68.82, amid the initial Asian session on Monday. It should be noted that AUD/JPY is considered as the market’s risk barometer and registers declines during times of uncertainty/pessimism. The current fall seems to have taken its clues from the coronavirus (COVID-19) fatalities inside the key global economies. The pair’s sustained trading below 10-day SMA defies Friday’s Doji candlestick formation while signaling further… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
