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FxWirePro: AUD/JPY close above 200-month MA to propel the pair higher

AUD/JPY chart - Trading View 

Technical Analysis: Bias Bullish

- AUD/JPY was trading 6.51% higher on the month till date

- Price action has retraced above 200-month MA, raising scope for further gains

- The pair has resumed upside after Doji formation in the previous week

- Pullback has bounced off 200-week MA and weekly cloud

- Momentum is bullish on daily, weekly and monthly charts

Support levels - 85.28 (5-DMA), 85, 84.76 (200-month MA)

Resistance levels - 85.66 (Monthly high), 85.75 (Upper W BB), 86

Summary: AUD/JPY has bounced off 21-month EMA with back-to-back Dojis. Watch out for close above 200-month MA for upside continuation. Next major bull target lies at 61.8% Fib at 88.02.  

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