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.
