AUD/JPY chart - Trading View
AUD/JPY was extending previous session's gains and was trading 0.32% higher at 80.26 at around 06:50 GMT.
The pair has held strong support at 21-EMA and has shown a decisive break above 200H MA which reiterates further gains in the pair.
Mostly welcoming Aussie trade data and upbeat market mood amid increased odds of the US fiscal stimulus raises scope for upside in the pair.
Australia's December Trade Balance grew past-5,022M figures to 6,785M whereas Exports again flash 3.0% rise. However, Imports dropped from +10.0% to -2.0% for the period.
Technical indicators support upside in the pair. Stochs and RSI are biased higher and RSI is above the 50 mark.
After back-to-back Doji formations on the previous week's candles, the pair is set to resume upside.
Bulls could target 76.4% Fib at 83.12. Retrace below 200W MA (78.99) will negate any further upside in the pair.
