29 May 2019
AUD/JPY technical analysis: Price at major support, eyes 77.50s long term resistance
- AUD/JPY has stalled at a critical support line, a likely channel support if it were not for the flash crash a the start of the year.
- Bulls can target a run to 77.50 as a long term major support level meeting the 50 D EMA.
- Daily stochastics are oversold and on the verge of breaking above 20.
- Alternative;y, the pair can continue lower within the steep descending channel on a break below 75.30.
