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Add as a preferred source on Google FxWirePro: AUD/JPY finds major trendline resistance at 77.95, good to long break above AUD/JPY was rejected at major trendline resistance on Friday. Pair holds gains above 20-DMA at 77.17, which is now strong support on the downside. Technicals on daily charts support further gains, break above 77.95 could…
By FxWirePro Team Oct 3, 2016, 6:43 AM UTC
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AUD/JPY was rejected at major trendline resistance on Friday.
Pair holds gains above 20-DMA at 77.17, which is now strong support on the downside.
Technicals on daily charts support further gains, break above 77.95 could see test of 110 EMA at 78.61.
Major support levels - 77.36 (50-DMA), 77.17 (20-DMA), 77, 76.96 (10-DMA)
Major resistance levels - 77.95 (trendline), 78.17 (Sept 30 high), 78.60 (Sept 8 high)
Recommendation: Good to long break above 77.95, SL: 77.35, TP: 78.20/ 78.60/ 79
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