FxWirePro: AUD/JPY finds stiff resistance at 76.50, breakout to propel prices higher

AUD/JPY chart - Trading View 

AUD/JPY spiked over 0.75% on the day and was trading slightly lower at 76.45 at around 10:50 GMT.

The pair trades with a bullish bias. Price action is above cloud and major moving averages.

Analysis of GMMA indicator shows major trend is bullish and minor trend is turning bullish.

The pair has broken above 200H MA and intraday volatility is rising. The pair also holds above 110-EMA support.

76.50 is stiff resistance (major trendline resistance). Watch for decisive break above for upside continuation.

On the flipside, 21-EMA is major support, break below negates any bullish bias.