FxWirePro: AUD/JPY Trade Idea

AUD/JPY chart on Trading View used for analysis

FxWirePro Currency Strength Index for AUD/JPY: Bias Bullish
FxWirePro's Hourly AUD Spot Index was at 152.16 (Bullish)
FxWirePro's Hourly JPY Spot Index was at -138.325 (Bearish)

Technical Analysis: Bias Bullish
- AUD/JPY closes above 21-EMA resistance at 80.01
- Stochs and RSI have turned higher
- MACD is showing a bullish crossover on signal line. 
- 'Bullish Divergence' on RSI and Stochs which adds to the bullish bias

Support levels - 80.02 (21-EMA), 79.73 (5-DMA)
Resistance levels - 80.57 (55-EMA), 81.28 (110-EMA)

Recommendation: Good to stay long on dips, SL: 79.70, TP: 80.50/ 81/ 81.25

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.