AUDJPY has been capped under the 95.76 resistance level (May 21/22/26 highs) following a 7-week rising channel break (as shown on the 240 minute chart). There is scope for further weakness towards 94.31 (May 7, 2015 higher low) near 94.57 (38.2% of the 90.19/97.29 rise) ahead of 93.55 (May 4, 2015 higher low, near 50% of the 90.19/97.29 rise). However, a strong push above the 95.76 range ceiling would defer the weakness and shift the focus towards 96.08 initially.
Outlook:
Short term: bearish
Long term: neutral
Outlook:
Short term: bearish
Long term: neutral
