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AUD/JPY has on the day breached 5-DMA resistance at 82.29 and is currently trading at 82.97, paring some gains from session highs at 83.40.
- We see weakness for the pair only on break below 82, which is strong support for the pair.
- Spinning tops formed at lows by 80.88 on Monday and Tuesday's trade support upside, Techs on daily charts also indicate further upside.
- We have been long since 81.50 (http://www.econotimes.com/FxWirePro-AUD-JPY-extends-recovery-from-multi-year-lows-good-to-buy-dips-140799), and recommend holding for further upside.
- Momentum is with the bulls, gains upto 85 levels likely, raise trailing stops to 82 levels
