FxWirePro: AUD/JPY extends 20-DMA breakout, eyes 110-EMA at 83.85, stay long

• AUD/JPY breaks above 20-DMA resistance at 82.45, bias higher.
   
• The pair is trading largely unchanged on the day at 83.26 at the time of writing, down from session highs at 83.43.
   
• Technical indicators support upside in the pair. RSI shows strength above 60 and Stochs are sharply higher.
   
• Next bull target lies at 110-EMA at 83.85. Breakout there will see test of 50% Fib at 84.78.
   
• On the flipside, break below 20-DMA could see test of trendline support at 80.90.

Support levels - 82.87 (5-DMA), 82.40 (50-DMA), 82.45 (20-DMA)

Resistance levels - 83.85 (110-EMA), 84, 84.24 (100-DMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-JPY-holds-50-DMA-support-at-8241-good-to-go-long-on-dips-1309462) has hit TP1.

Recommendation: Bias higher. Stay for further upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 97.0368 (Bullish), while Hourly JPY Spot Index was at -120.468 (Bearish) at 0935 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex. 

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