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Supports: 79.77; 79.30; 78.77
Outlook
The downtrend, which started yesterday, successfully managed to continue, and today the AUD/JPY currency couple experienced another significant bearish reaction. As for now, the price confronts the lower Bollinger band at 79.77, which is expected to change the direction of the present movement. If it fails to stop the decline, then next support at 79.30 (weekly S2) will probably bring some bullish impetus. Moreover, RSI indicator still remains neutral, although it is extremely close to the over-sold area, therefore soon a sell signal should be expected. On the other hand, current resistances are at 80.97, 81.52 and 81.79, and they seem to be secure at the particular moment.
Traders' sentiment
Despite the prevailing downtrend, traders at SWFX market expect the aussie to gain value against the Japanese Yen, as 69% of traders hold long positions and only 31% of traders hold short positions. The situation with orders also shows some bullish trend expectations, since 79% of traders ordered to buy and only 21% ordered to sell the Australian Dollar.