Chart - Courtesy Trading View
Technical Analysis:
- AUD/JPY was trading largely unchanged at 93.77 at around 12:25 GMT
- The pair is consolidating above daily cloud and finds strong support at 50-DMA
- Price action is above 200H MA and GMMA indicator has turned bullish on the intraday charts
- Momentum is bullish. Stochs are biased higher and RSI is above the 50 mark
- MACD is on verge of bullish crossover on signal line and Chikou span is biased higher
Support levels - 93.34 (20-DMA), 92.54 (50-DMA)
Resistance levels - 94.90 (Upper BB), 95
Summary: AUD/JPY consolidates above major support levels. The pair is poised for upside resumption. Weakness only below daily cloud.
