Chart - Courtesy Trading View
Technical Analysis:
- AUD/JPY was trading 0.07% higher on the day at 94.33 at around 11:40 GMT
- The pair is trading rangebound for the second straight session as price consolidates cloud breakout
- GMMA indicator shows major and minor trend are strongly bullish
- Volatility is high and momentum is bullish, MACD and ADX support gains
Support levels - 93.70 (5-DMA), 92.13 (200H MA), 91.92 (21-EMA)
Resistance levels - 94.53 (Upper BB), 95, 95.74 (Apr high)
Summary: AUD/JPY trades with a bullish bias. Scope for refresh of yearly high above 95.74. Bullish invalidation only below daily cloud.
