FxWirePro: AUD/JPY Major Support at 79.60, Weakness Only on Breaks Below

FxWirePro: AUD/JPY Major Support at 79.60, Weakness Only on Breaks Below

5 May 2016, 14:56
Roberto Jacobs
0
13

FxWirePro: AUD/JPY Major Support at 79.60, Weakness Only on Breaks Below

  • AUD/JPY has been trading a falling channel on the weekly charts. 
  • Major support is seen around 76.50 to 79.60 zone. Breaks below could see test of 77.60 level. 
  • Further weakness could see test of channel base at 75 levels. 
  • On the flipside, 82 is major resistance. Bearish invalidation only above 82.

Recommendation: Good to sell breakout below 79.60, target 77.60 

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