FxWirePro: AUD/JPY Daily Outlook

AUD/JPY chart - Trading View 

Technical Analysis: Bias Bullish

GMMA Indicator:

- Major Trend: Neutral

- Minor Trend: Bullish

Ichimoku Analysis:

- The pair is trading above daily cloud

- Minor pullbacks have bounced off Kijun Sen 

Oscillators:

- RSI is above 50 and biased higher

- Stochs are biased higher, momentum bullish

Bollinger Bands:

- Bollinger Bands are flat on the daily charts, volatility is high

High/Low: 

- Previous Week High/Low - 70.17/ 68.54

- Previous Session High/Low - 70.05/ 68.64

Major Support Levels: 69.43 (5-DMA), 69.04 (55-EMA), 68.20 (50% Fib)

Major Resistance Levels: 70.25 (110-EMA), 72.11 (200-DMA), 72.60 (74.6% Fib) 

Summary: AUD/JPY has broken above major trendline resistance technical indicators are favourable for further gains. The pair has paused upside at 70 mark. 110-EMA and 61.8% Fib offers stiff resistance. Break above will fuel further gains. Little resistance thereafter till 200-DMA at 72.11.