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Supports: 79.86; 79.50; 79.29
Outlook
The bearish trend, which started two days ago, successfully continues, and today AUD/JPY has made another slight move towards the monthly S1 at 79.86, which is expected to stop the prevailing downtrend. If it is broken, then the price might reach the lower Bollinger band at 79.50, which in turn will probably reverse the prevailing movement downwards. Nevertheless, RSI remain neutral, although it remains extremely close to the over-sold area. Besides, present resistances are at 80.97, 81.52 and 81.77, and so far there are no signs that they might be breached.
Traders' sentiment
SWFX market participants are optimistic regarding the AUD/JPY currency couple, since 75% of traders hold long positions and only 25% of traders hold short positions. The distribution of orders is very similar, as 79% of traders ordered to buy and only 21% ordered to sell the Australian Dollar.