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- AUD/JPY trades with a bullish bias.
- The pair has broken major trendline resistance on Monday.
- We have seen a break above 20-DMA on the day.
- Stochs have rolled over from oversold territory. RSI is biased north.
- MACD shows a bullish crossover on signal line and CCI has edged above zero.
- We see weakness on break below 76.80 (trendline resistance turned support).
- Upside scope till 50-DMA at 77.64, break above could see test of 78 levels.
Recommendation: Good to go long on dips around 77.25, SL: 76.80, TP: 77.65, 78/ 78.18
