FxWirePro: AUD/JPY gains over 0.85%, tests 110-EMA resistance

AUD/JPY chart - Trading View 

AUD/JPY was trading 0.87% higher on the day at 74.47 at around 11:00 GMT.

The pair has slipped lower from session highs at 74.67, finds stiff resistance at 110-EMA at 74.71.

Stochs and RSI are showing a rollover from oversold levels and are now biased higher.

MACD is on verge of bullish crossover on signal line and a 'Bullish RSI Divergence' supports upside.

Break above 110-EMA will fuel further gains in the pair. Scope for test of daily cloud. Breakout at daily cloud will confirm upside continuation.

On the flipside, the pair finds major support at 200-DMA. Break below required for further weakness.

Support levels - 73.78 (5-DMA), 72.79 (200-DMA)

Resistance levels - 74.71 (110-EMA), 75.10 (55-EMA)