AUD/JPY Technical Analysis: Corrective rally stalled at 50-hour MA

• The AUD/JPY pair created gravestone doji-like pattern, which indicates the corrective rally from the low of 80.63 has likely run out of steam at the falling (bearish) 50-hour moving average (MA).
• The broader outlook remains bearish as indicated by the bear flag breakdown in the daily chart.

Hourly chart

Daily chart

Spot Rate: 81.40

Daily High: 81.59

Daily Low: 80.99

Trend: Bearish

Resistance

R1: 81.57 (50-hour MA)

R2: 81.94 (5-day MA)

S3: 82.16 (100-hour MA)

Support

S1: 80.99 (session low)

S2: 80.63 (previous day's low)

S3: 80.50 (March 23 low)