The AUD/JPY looks like it as run out of steam on the daily and weekly charts and could be on its way back to the 0.6600 region in the next week or so. As the daily shows, we have also failed right on the 200 DMA which isn’t a great sign technically. A break back below the 70.00 level would confirm we are heading lower but we could be in for another bounce back towards 72.00 which is a good opportunity to get shorter for the eventual break lower.
Look to sell at 71.80 and 72.50 with a stop above 73.20.
