FXstreet.com (San Francisco) - AUD/JPY has dragged lower, tracking Australian dollar weakness and Japanese yen strength ahead of results from the Bank of Japan September policy meeting.
The market has slipped below the 82 figure to as low as 81.88 and is threatening to slide farther. A 38.2% Fibonacci retracement level at 81.77 is immediate support, which was successful in limiting slides made overnight; below there lies a cluster of convergent EMA support in the 81.60/50 zone.
If price manages to push through there, next support lies at 81.36 (50% Fibo, 79.65/83.06 upswing), then 80.96 (61.8% Fibo, mentioned upswing). Upside rallies may encounter resistance at 82.20 (intraday) before opening scope to test resistance at the psychological 83.00 figure.
The market has slipped below the 82 figure to as low as 81.88 and is threatening to slide farther. A 38.2% Fibonacci retracement level at 81.77 is immediate support, which was successful in limiting slides made overnight; below there lies a cluster of convergent EMA support in the 81.60/50 zone.
If price manages to push through there, next support lies at 81.36 (50% Fibo, 79.65/83.06 upswing), then 80.96 (61.8% Fibo, mentioned upswing). Upside rallies may encounter resistance at 82.20 (intraday) before opening scope to test resistance at the psychological 83.00 figure.
