Chart - Courtesy Trading View
Technical Analysis:
- AUD/JPY was trading 1.30% higher on the day at 92.04 at around 13:20 GMT
- The pair has spiked past cloud top and 55-EMA resistance, scope for further gains
- Momentum is bullish, Stochs and RSI are biased higher, RSI is above 50 mark
- MACD is on verge of bullish crossover on signal line, Price action is above 200H MA
- GMMA indicator shows major and minor trend are bullish on the intraday charts
Support levels - 91.34 (55-EMA), 91.27 (200H MA)
Resistance levels - 92.81 (Jan 26 high), 92.96 (200-DMA)
Summary: AUD/JPY shows signs of upside resumption. Scope for test of 200-DMA at 92.96.
