AUD/JPY chart - Trading View
AUD/JPY was trading 0.25% lower on the day at 75.13 at around 10:26 GMT.
The pair is consolidating around 55-EMA, scope for further upside as markets turn cautiously optimistic.
Riskier assets extend the rally against the backdrop of rising hopes of a Biden victory.
AUD/JPY trades with a neutral bias. Price action holds above 200-DMA raising scope for resumption of upside.
GMMA indicator shows minor trend is turning bullish. MACD shows a bullish crossover on signal line.
A bullish 5-DMA crossover on 20-DMA also keeps scope for upside. Daily cloud is immediate resistance at 75.61.
Cloud breakout will confirm resumption of upside. On the flipside, 110-EMA is immediate support, break below will see dip till 200-DMA.
