AUDJPY Facing Bearish Pressure | 2 Aug 2021

AUDJPY Facing Bearish Pressure | 2 Aug 2021 for FX:AUDJPY by FXCM

AUDJPY Facing Bearish Pressure | 2 Aug 2021



AUD/JPY is holding below the descending trendline and approaching the sell entry at 80.181 which is in line with our horizontal overlap resistance and 23.6% Fibonacci retracement . Price is likely to resist off this level to take support at 79.443 in line with -27.2 % Fibonacci retracement . Our bearish view is further strengthen by how price is holding below the EMA as well as by how MACD is holding below 0.

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