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FxWirePro: AUD/JPY grinds higher, on track to test 200-DMA at 82.28

AUD/JPY chart - Trading View 

Technical Analysis: Bias Bullish

- AUD/JPY trades 0.24% higher on the day at 81.75 at around 13:10 GMT

- The pair is extending break out of daily cloud, Chikou span is biased higher

- Momentum is strongly bullish, Stochs and RSI are biased higher

- MACD is above the zero level and supports upside, ADX is also in favour of bulls

- Volatility is high and rising as evidenced by widening Bollinger bands

- GMMA indicator shows major trend is neutral, but minor trend is bullish

Support levels - 81.33 (110-EMA), 81.25 (5-DMA), 80.87 (55-EMA)

Resistance levels - 81.84 (50% Fib), 82.28 (200-DMA), 82.78 (61.8% Fib)

Summary: AUD/JPY trades with a bullish bias. Scope for test of 200-DMA at 82.28. Break above 200-DMA will take the pair higher to 61.8% Fib at 82.78. 
 

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