Chart - Courtesy Trading View
Technical Analysis:
- AUD/JPY edges higher from session lows at 89.85
- Price action hovers above 21-EMA support, close above has raised scope for upside
- MACD shows bullish crossover on signal line
- Momentum is turning bullish, volatility is high
- GMMA indicator shows major and minor trend are bullish
Support levels - 90.41 (21-EMA), 89.56 (200H MA)
Resistance levels - 91.81 (55-EMA), 92.44 (110-EMA)
Summary: AUD/JPY close above 21-EMA has raised scope for further upside. Next bull target lies at 55-EMA at 91.81. Failure to hold above 21-EMA negates any upside bias.
