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FxWirePro: AUD/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/JPY was trading largely unchanged at 93.77 at around 12:25 GMT

- The pair is consolidating above daily cloud and finds strong support at 50-DMA

- Price action is above 200H MA and GMMA indicator has turned bullish on the intraday  charts

- Momentum is bullish. Stochs are biased higher and RSI is above the 50 mark

- MACD is on verge of bullish crossover on signal line and Chikou span is biased higher

Support levels - 93.34 (20-DMA), 92.54 (50-DMA)

Resistance levels - 94.90 (Upper BB), 95

Summary: AUD/JPY consolidates above major support levels. The pair is poised for upside resumption. Weakness only below daily cloud. 
 

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