FxWirePro: AUD/JPY pauses shy of 110-EMA, break above will see gains till 80.54

AUD/JPY chart - Trading View 

• AUD/JPY has retraced from session highs at 79.41, trades at 79.12 at 1045 GMT.
   
• The pair finds stiff resistance at 110-EMA (currently at 79.56), break above required for further upside.
   
• Technical studies support upside in the pair. RSI above 50, bias higher. Stochs show bullish momentum.
   
• Next major hurdle above 110-EMA lies at 200-DMA at 80.54 ahead of 78.6% Fib at 81.04.
   
• On the downside, immediate support lies at 5-DMA at 78.92. Break below 21-EMA at 78.85 could see further weakness.
   
• Focus on the Reserve Bank of Australia’s (RBA) March monetary policy meeting minutes, scheduled to be released on March 19 by 00:30 GMT for further direction.

Support levels - 78.92 (5-DMA), 78.85 (21-EMA), 78.22 (Lower BB)

Resistance levels - 79.56 (110-EMA), 80.54 (200-DMA), 81.04 (78.6% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.