Yesterday's short-term technical outlook:
![AUD/JPY Institutional Technical Outlook [Intraday]](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
As discussed in yesterday's short-term technical outlook further downside was expected so long as price remained below the 85.75 high. From the time that was posted we did see further downside and judging price action we can expect to see even more downside.
The directional trend on this pair has switched to slightly bearish so it is now preferred to buy upticks and pullbacks.
Continuous lower highs slowly drifting into short-term support at 84.63 suggests that sellers are in control right now. Unless buyers quickly step in soon we can expect to see the latter figure broken which would open the downside on this pair.
Next downside target is at key support at 83.8 which is strong institutional support. It is possible to see dip buyers step in at the level and/or profit taking from shorts, so be careful if you are holding shorts going into that level.
I hope this gives you traders clarity on this pair.
Enjoy!
![AUD/JPY Institutional Technical Outlook [Intraday]](https://s3.tradingview.com/4/48xt1jcJ_big.png)
As discussed in yesterday's short-term technical outlook further downside was expected so long as price remained below the 85.75 high. From the time that was posted we did see further downside and judging price action we can expect to see even more downside.
The directional trend on this pair has switched to slightly bearish so it is now preferred to buy upticks and pullbacks.
Continuous lower highs slowly drifting into short-term support at 84.63 suggests that sellers are in control right now. Unless buyers quickly step in soon we can expect to see the latter figure broken which would open the downside on this pair.
Next downside target is at key support at 83.8 which is strong institutional support. It is possible to see dip buyers step in at the level and/or profit taking from shorts, so be careful if you are holding shorts going into that level.
I hope this gives you traders clarity on this pair.
Enjoy!
