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Chart - Courtesy Trading View
AUD/JPY was trading 0.40% higher on the day at 84.60 at around 12:50 GMT.
The pair is grinding higher for the fifth consecutive week, outlook bullish.
Momentum is strongly bullish. Stochs and RSI are sharply higher, RSI is well above 60 level.
GMMA indicator shows major and minor trend are strongly bullish on the daily and weekly charts.
Price action is above daily cloud and Chikou span is biased higher, suggesting further upside.
The pair has broken major trendline resistance at 84.40, close above will fuel further gains.
Support levels - 84.40 (Trendline), 83.83 (5-DMA), 83.02 (21-EMA)
Resistance levels - 85, 85.70 (Upper W BB), 86.25 (Oct 2021 high)
Summary: AUD/JPY trades with a bullish bias. Scope for further gains. Test of 85.70 on cards.
