AUD/JPY falters at 82 yen

Its pullback from the January low met resistance at the 50% retracement level to the YTD high, descending trendline and 19-day eMA on Thursday before bears drove it back below 82.00 on Friday. It wasn’t quite a bearish engulfing candle but it does point towards a swing high at 82.28.

The four-hour chart shows a bearish engulfing candle roll over at the 200-day eMA and close beneath the monthly pivot point, and the 50-dar eMA has since capped as resistance. Should prices remain below 82.00 then we are simply waiting for a break beneath the 81.28 low to suggest bearish trend continuation.

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