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Supports: 80.75; 80.24; 80.08
Outlook
The bearish tendency, which started on August 22th, managed to continue, and now the AUD/JPY currency pair is about to reach the lower Bollinger band at 80.75, which is expected to reverse the prevailing trend, however if is breached, then the price might reach the weekly S2 at 80.24, which in turn is very likely to bring some bullish impetus. Moreover, RSI indicator remains neutral, although it has already moved very close to the over-sold area.
Traders' sentiment
Despite the prevailing downtrend, SWFX market participants are optimistic regarding the potential value of the Australian Dollar, as 66% of traders hold bullish positions and only 34% of traders hold bearish positions. The situation with orders also supports bullish tendency expectations, since 63% of traders ordered to buy and 37% ordered to sell the aussie.