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Chart - Courtesy Trading View
Technical Analysis:
- AUD/JPY was trading 1.80% higher on the day at 90.28 at around 16:20 GMT
- The pair has snapped a 2-day bearish streak and retraced above 21-EMA
- Price action has edged above 200H MA, raising scope for further upside
- Momentum is turning bullish, Stochs are turning, while RSI is now biased higher and edged above 50
- GMMA indicator has turned bullish on the intraday charts
Support levels - 89.95 (200H MA), 89.44 (5-DMA)
Resistance levels - 91.20 (55-EMA), 91.99 (110-EMA)
Summary: AUD/JPY is poised for further upside. The pair is on track to test 55-EMA resistance. Decisive break above 55-EMA required for upside continuation.
