AUD/JPY chart - Trading View
Technical Analysis: Bias Bullish
- AUD/JPY was trading 0.31% higher on the day at 79.51 at around 08:30 GMT, outlook bullish
- Price action has broken above 200W MA at 79.12
- Volatility is rising as evidenced by widening Bollinger bands
- Momentum studies are bullish, Stochs and RSI are sharply higher
- Analysis of GMMA indicator shows major and minor trend are strongly bullish
Support levels - 79.12 (200W MA), 76.44 (21-EMA)
Resistance levels - 80.71 (Apr 2019 high), 83.79 (78.6% Fib)
Summary: The pair trades with a major bullish bias. Close above 200W MA will buoy bulls. Scope then for test of 80.71 (Apr 2019 high). Next major resistance lies at 78.6% Fib at 83.79.
