FxWirePro: AUD/JPY extends bounce off 21-EMA support, break above 21-EMA could fuel further gains

AUD/JPY chart - Trading View 

AUD/JPY has ignored a 'Spinning Top' formation on Friday's candle, was trading higher for the 3rd straight session.

The pair was trading 0.43% higher on the day at 68.70 at around 10:00 GMT, intraday bias is bullish.

Technical indicators for the pair are bullishly aligned. Price action extends upside along 200H MA.

Momentum studies are bullish. Price action is extending bounce off 21-EMA support and major moving averages are biased higher.

The pair finds stiff resistance at 70.00 (nearly converged 55-EMA and daily cloud). Break above will buoy prices higher.

Resistances on the upside align at 61.8% Fib at 70.17, 110-EMA at 70.80 and 200-DMA at 72.68.

On the flipside, 21-EMA is strong support at 67.68. Break below will see drag till 20-DMA at 67.15 ahead of 38.2% Fib at 66.23.

Reserve Bank of Australia (RBA) meeting minutes followed by RBA Governor Phillip Lowe's speech due Tuesday will be watched for cues.