FxWirePro: AUD/JPY rangebound above 5-DMA, finds stiff resistance at 20-DMA at 82.26

• AUD/JPY is trading in a narrow range above 5-DMA support at 81.53.
   
• Long-term price action is edging lower in a downward channel. Bias still lower.
   
• The pair finds stiff resistance at 20-DMA at 82.26, decisive breakout could see further upside.
   
• Further, we evidence bullish divergence on RSI and Stochs which raises scope for further upside.
   
• Break above 20-DMA could see test of 83.78 (38.2% Fib retrace of 89.089 to 80.50 fall).
   
• On the flipside, break below 5-DMA could see resumption of weakness.

Support levels - 81.52 (5-DMA), 81, 80.50 (Mar 23 low)

Resistance levels - 81.90 (trendline), 82.26 (20-DMA), 82.57 (23.6% Fib)

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