AUD/JPY drops after refreshing three-month top the previous day. Dwindling MACD, repeated failures to cross the key resistance line suggest further weakness. 10-day SMA, monthly support line on the bear’s radar. AUD/JPY stays depressed around 77.50 during the pre-Tokyo open on Thursday. The pair recently dropped from 77.63 while extending Wednesday’s pullback from the highest since September 03. In doing so, the quote takes another U-turn from an upward sloping resistance line from October 09. Considering the pair’s fourth failure to cross the key upside hurdle, coupled with the receding strength of bullish MACD, the sellers are looking for entries. As a result, a confluence of 10-day SMA and a 10-day-old rising support line, around 77.20/10, becomes important to watch. Should the quote drops below 77.10, also breaks the 77.00 round-figure, AUD/JPY bears might not refrain from targeting the late-November low near 75.40. Meanwhile, a daily closing beyond the stated resistance line, at 77.65 now, will eye for the yearly top, marked on August 31, near 78.50. AUD/JPY daily chart Trend: Further weakness expected 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 What renowned chartists think about the short-term direction of Bitcoin price FX Street 2 years AUD/JPY drops after refreshing three-month top the previous day. Dwindling MACD, repeated failures to cross the key resistance line suggest further weakness. 10-day SMA, monthly support line on the bear’s radar. AUD/JPY stays depressed around 77.50 during the pre-Tokyo open on Thursday. The pair recently dropped from 77.63 while extending Wednesday’s pullback from the highest since September 03. In doing so, the quote takes another U-turn from an upward sloping resistance line from October 09. Considering the pair’s fourth failure to cross the key upside hurdle, coupled with the receding strength of bullish MACD, the sellers are looking for entries.… 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.
