- AUD/JPY breaks above 20-DMA resistance at 82.45, bias higher.
- The pair is trading largely unchanged on the day at 83.26 at the time of writing, down from session highs at 83.43.
- Technical indicators support upside in the pair. RSI shows strength above 60 and Stochs are sharply higher.
- Next bull target lies at 110-EMA at 83.85. Breakout there will see test of 50% Fib at 84.78.
- On the flipside, break below 20-DMA could see test of trendline support at 80.90.
Support levels - 82.87 (5-DMA), 82.40 (50-DMA), 82.45 (20-DMA)
Resistance levels - 83.85 (110-EMA), 84, 84.24 (100-DMA)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-JPY-holds-50-DMA-support-at-8241-good-to-go-long-on-dips-1309462) has hit TP1.
Recommendation: Bias higher. Stay for further upside.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 97.0368 (Bullish), while Hourly JPY Spot Index was at -120.468 (Bearish) at 0935 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest.
