FxWirePro: AUD/JPY extends gains above 10-DMA at 83.50, stay long

• Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-bounces-off-strong-trendline-support-at-8075-good-to-buy-dips-192968) has hit all targets.
   
• The pair extended its winning streak into a fourth day today as the bulls were bolstered by improved risk appetite post strong China’s exports and imports data.
   
• Weakness in the Japanese currency against its American counterpart also contributes to the upside in the cross.
   
• Technicals on daily charts are supportive for further upside in the pair. Momentum studies are still bullish.
   
• The pair has broken above 10-DMA resistance at 83.50, which is now strong support on the downside ahead of 83.29 (session lows).
   
• Upside finds resistance at 84 and then 84.12 (Jan 7th highs) and further above at 84.22 (Jan 27th highs).
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Recommendation: Book partial profits, raise stops to 83.50, target 84.20/30