AUD/JPY chart - Trading View
AUD/JPY was trading largely unchanged on the day at 79.48 at around 09:30 GMT.
The pair has closed above 200W MA in the previous week's trade, raising scope for further gains.
Aussie largely ignores downbeat Chinese Caixin PMI data and remains resilient amid expectations for continued recovery in global activity.
Analysis of GMMA indicator shows major and minor trend are strongly bullish on the daily and weekly charts.
Volatility is high and rising as evidenced by widening Bollinger bands. Momentum strongly bullish.
The pair is set to extend gains above 200W MA and is on track to test 78.6% Fib at 83.72.
20-DMA is immediate support at 79.49. Retrace below 200W MA will negate any bullish bias.
