FxWirePro: AUD/JPY finds major resistance at 83.25, break above to target 86.30

• AUD/JPY trades with a highly bullish bias, Techs favour further gains.
   
• The pair finds major resistance at 83.50 (converged trendlines).
   
• Breakout above to see acceleration in upside, next likely bull target 86.30.
   
• Support levels - 83, 82.28 (5-DMA), 80.98 (20-DMA) 
   
• Resistance levels - 83.50 (converged trendlines), 84.05 (38.2% Fib Nov 2014 to June 2016 downside), 0.85, 0.8630 (Apr 26, 28 high)
   

Recommendation: Go long on breakout above 83.50, SL: 82.25, TP: 84/ 85/ 86/ 86.30
​

FxWirePro's Hourly AUD Spot Index was at 63.9914 (Neutral), while Hourly JPY Spot Index was at -99.4084 (Slightly bearish) at 0712 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex