AUD/JPY chart - Trading View
Spot Analysis:
AUD/JPY was trading 0.28% higher on the day at 80.91 at around 10:20 GMT
Previous Week's High/ Low: 81.31/ 79.90
Previous Session's High/ Low: 80.80/ 79.90
Fundamental Overview:
In the week ahead, the Reserve Bank of Australia meets on Tuesday and is expected to keep policy steady.
Renewed concerns that a collapse at Evergrande could hurt an already fragile Chinese economic recovery and weigh on global growth, is likely to keep upside limited.
Technical Analysis:
- AUD/JPY is extending bounce off 21-EMA support
- Price action has broken above 55-EMA, scope for further upside
- The pair trades above 200H MA and GMMA indicator shows bullish shift on the intraday charts
- Volatility is high and momentum is bullish, raising scope for further gains
Major Support and Resistance Levels:
Support - 80.40 (21-EMA), Resistance - 81.33 (110-EMA)
Summary: AUD/JPY has bounced off 21-EMA support, raising scope for further upside. Technicals show bullish bias. Decisive breakout above daily cloud will propel the pair higher.
