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Technical analysis

The AUDJPY pair is bearish and is close to stage a major technical breakout under its lower daily Bollinger Band. The Bollinger Bands are also slopping downwards, which is bearish.

The daily time frame shows that significant amounts of bearish MACD price divergence has formed. The MACD price divergence extends down towards the 78.90 level.

What the possible outcomes are

In our most likely scenario, the bearish price trend will remain in place and the AUDJPY pair will continue to decline back towards the 78.90 level over the medium-term time horizon.

Alternatively, the AUDJPY pair will stage another technical test back towards the mid-line of the Bollinger Band, around 81.95, and then start to sell-off again.

Key levels

Support 78.90 79.90

Resistance 81.20 81.95