AUD/JPY slips below 79 handle, good to sell rallies
AUD/JPY has broken major support at 79.17 and has fallen below the 79 handle to currently trade around 78.86 levels.
On 4H charts momentum studies are bearish, RSI and stochs are biased lower.
Downside now sees next major support at 78.63, breaks below could see test of 78.30 (trendline).
On the upside resistance is seen at 79.34 (4H 5 SMA), and then at 79.52 (4H 10 SMA).
Sell rallies around 78.95, SL: 79.40, TP: 78.65/78.30
On 4H charts momentum studies are bearish, RSI and stochs are biased lower.
Downside now sees next major support at 78.63, breaks below could see test of 78.30 (trendline).
On the upside resistance is seen at 79.34 (4H 5 SMA), and then at 79.52 (4H 10 SMA).
Sell rallies around 78.95, SL: 79.40, TP: 78.65/78.30
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