Technical Analysis:
- AUD/JPY rejected at highs at 85.91 on Monday's trade.
- Doji formation seen at highs. Pair struggling to hold gains above 20-DMA.
- Momentum studies are bullish, scope for upside seen. RSI strong at 55 levels, Stochs biased higher.
- Pair holds above 85 handle. Decisive break above 20-DMA required for upside traction.
TIME TREND OB/OS LEVEL
1H Neutral Neutral
4H Bearish Neutral
1D Neutral Neutral
1W Bullish Neutral
Support levels - 85.13 (5-DMA), 85 (20-DMA), 84.75 (trendline)
Resistance levels - 85.91 (Jan 9th high), 86, 87, 87.14 (Dec 16 high)
