FxWirePro: AUD/JPY consolidates break above 200-DMA, tests 38.2% Fib, bias higher

AUD/JPY chart on Trading View used for analysis

• AUD/JPY is trading 0.15% higher on the day at 82.32 at the time of trading.
   
• The pair has tested 38.2% Fib at 82.58 and break above to see further upside.
   
• The pair is extending consolidation above 200-DMA and intraday bias is higher.
   
• Technical studies support upside, RSI and Stochs are biased higher, scope for further upside on break above 38.2% Fib.
   
• Next major resistance above 38.2% Fib lies at 83.05 (Nov 8 high) ahead of 83.82 (50% Fib).
   
• On the flipside, 200-DMA is immediate support at 81.88. Break below 110-EMA support to see bearish continuation. 

Support levels - 81.88 (200-DMA), 81.51 (110-EMA), 81.04 (23.6% Fib)

Resistance levels - 82.58 (38.2% Fib), 83.05 (Nov 8 high), 83.82 (50% Fib)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-JPY-extends-break-above-200-DMA-eyes-382-Fib-at-8258-1463917) has hit TP1.

Recommendation: Book partial profits at highs, watchout for break above 38.2% Fib for further upside.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.