AUD/JPY chart - Trading View
AUD/JPY was trading 0.88% higher on the day at 76.44 at around 12:30 GMT.
The pair is up over 6% for the week and is on track to test new highs. Momentum with the bulls.
Price action has edged above stiff resistance at 110W EMA at 75.79, close above will confirm further gains.
Overbought oscillators may cause minor weakness, but pullbacks likely to be shallow.
Major and minor trend as evidenced by GMMA are strongly bullish. MACD and ADX on the daily charts support gains.
Scope for test of 200W MA at 80.03. Failure at 110W EMA and retrace below 200-DMA negates bullish bias.
