- Daily cloud weighs on AUD/JPY upside, break above to see further gains.
- The pair has bounced off major trendline support at 75.95 on Thursday last week.
- Technical indicators on daily charts support upside. RSI is biased north, while crossover from oversold levels seen on Stochs.
- Major resistance levels - 77.0 (cloud base), 77.28 (20-DMA), 77.85 (50-DMA), 77.93 (cloud top), 78.15 (100-DMA)
- Major support levels - 76.38 (Sept 14 and session lows), 76.10 (Aug 24 low), 75.95 (trendline)
Recommendation: Good to long on break above 77, SL: 76.35, TP: 77.85/ 78/ 78.15
