AUD/JPY chart - Trading View
AUD/JPY was trading 0.54% higher on the day at 75.42 at around 06:40 GMT.
Tankan Survey released earlier in the Asian session showed Japan’s manufacturers least pessimistic since February, but remains in the negative territory.
Tankan sentiment index for manufacturers showed a marked improvement in November, rising to minus 13 from minus 26 in the previous month.
Analysis of GMMA indicator shows minor trend has turned bullish, while major trend is neutral. On the weekly charts, the pair is extending bounce off 50W MA and bias remains higher.
The pair is consolidating break above 55-EMA and 'Bullish RSI Divergence' keeps scope for upside. Daily cloud offers stiff resistance, break above to fuel further gains.
Next major bull target lies at 61.8% Fib at 78.67 ahead of 200W MA at 79.42. Rejection at daily cloud and failure to hold above 55-EMA will negate bullish bias.
