Chart - Courtesy Trading View
Technical Analysis:
- AUD/JPY was trading 0.40% lower on the day at 92.22 at around 14:00 GMT
- The pair is holding above 5-DMA which is sharply higher
- GMMA indicator shows minor trend is bullish, while major trend is turning bullish
- Momentum is bullish, volatility is high and rising, MACD and ADX support upside in the pair
- Price action has edged above 21-week EMA, weekly close above will fuel further gains
Support levels - 92.00 (110-EMA), 91.34 (55-EMA)
Resistance levels - 93.00 (200-DMA), 73.78 (previous month high)
Summary: AUD/JPY consolidates above daily cloud. Technical bias is bullish. 200-DMA at 93.00 in sight. Decisive break above will fuel further gains.
