AUD/JPY chart - Trading View
AUD/JPY is extending its bull run for the 4th consecutive month and was trading 1.40% higher for the month till date.
The pair is extending gradual grind higher and minor pullbacks in the pair have held strong support at 21-EMA.
Price action has bounced off 200W MA support with a Spinning Top formation and momentum is strongly bullish.
Technical indicators support upside in the pair. Stochs and RSI are biased higher and RSI is above the 50 mark.
The pair is set to extend previous weeks' gains. 110 month EMA is stiff resistance for the bulls at 81.46. Break above will likely see test of 76.4% Fib at 83.12.
5-DMA is immediate support at 80.39. Retrace below 200W MA (78.99) will negate any further upside in the pair.
