Our mid-day view of the AUDJPY is still quite bullish as long as prices are well above the 9th of February low of 85.359 and above 50-day moving average (white whip line) as shown on daily price chart below. However on 4-hour chart, price has penetrated the 50-day moving average but further downward momentum is greatly limited at the moment and hence our intra-day view is neutral at this point. As long as price struggles to penetrate support zone consisting of fibonnaci clusters at 86.756 and 86.397 respectively further advance is expected in line with the bullish sructure. Nevertheless penetration and daily price close below 86.397 cluster support (red arrow) area shown is needed to turn intra-day bias to the downside.
see link below for actual chart
http://bit.ly/2lFkxwh
see link below for actual chart
http://bit.ly/2lFkxwh
