FxWirePro: AUD/JPY 4H long setup

• AUD/JPY intraday bias higher after break of 100-DMA currently at 85.13.
   
• The pair has major trendline support at 85.35, weakness only no break below.
   
• On the hourly charts, we have watching out for a possible golden cross (50 & 200 DMA).
   
• Momentum studies are bullish, RSI strong at 67 levels with further room to run.
   
• Support levels - 86, 85.55 (converged 1H 50&100 SMA), 85.29 (4H 200-MA)
   
• Resistance levels - 86.70 (channel top), 87, 87.53 (Dec 15 high)
   

Recommendation: Good to go long on AUD/JPY dips around 86, SL: 85.50, TP: 86.70/ 87/ 87.50

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 83.6938(Bullish), while Hourly JPY Spot Index was at -111.551 (Highly bearish) at 0615 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.