AUD/JPY Drops to 109.40, Lowest Since Late March, Defends 200-Day SMA
The Australian dollar tumbled against the yen to around 109.40, its weakest level since late March, but found support at the 200-day simple moving average.
AUDJPY
AUD/JPY came under heavy selling pressure at the start of the new trading week, dropping to around 109.40, its lowest level since late March. The decline followed a breakdown from a prior range-bound pattern.
The cross is now defending the 200-day simple moving average near 109.35, a key technical support. A sustained break below this level could open the door to further losses.
Source: FXStreet Forex News