AUD/JPY rejected at 77.50, skids below 77.00

Dhwani Mehta FXStreet

The selling pressure behind the AUD/JPY cross intensifies in the European session, with the bears now pushing the rate below 77 handle.

AUD/JPY heads towards 5-DMA at 76.87

The AUD/JPY pair, currently, trades +0.44% at 76.93, extending the drop from daily highs of 77.50. The cross in the AUD/JPY is seen receding gains in tandem with the AUD/USD pair, as risk appetite appears to have taken a hit once again amid renewed weakness in the European stocks and oil prices.

While moderate gains seen in the USD/JPY pair offers some support to the cross, as focus now turns towards the speech from the FOMC member Fischer and US economic data due later in the NA session.

AUD/JPY Technical Levels

To the upside, the next resistance is located at 77.25 (50-DMA) and above which it could extend gains to at 77.69 (50-DMA).To the downside immediate support might be located 75.93 (multi-week lows) below that at 75.50 (psychological levels).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Strongly Bearish	Oversold	High
1H	Bearish	Neutral	High
4H	Bullish	Neutral	High
1D	Strongly Bearish	Neutral	Shrinking
1W	Bearish	Neutral	Low
Updated Sep 27, 09:30 GMT

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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