FxWirePro: AUD/JPY refreshes three-month highs, outlook bullish
AUD/JPY chart - Trading View
AUD/JPY was trading 0.59% higher on the day at 84.03 at around 10:40 GMT.
The risk-on mood acted as a tailwind for the pair supporting further upside.
Price action is extending bullish streak for the 6th straight session, breaks next hurdle at 76.4% Fib.
The pair is refreshing 3-month highs and bullish momentum is likely to drive further gains in the pair.
Pullback in the pair has bounced off weekly cloud support and Stochs and RSI are biased higher on the weekly charts.
Major Support Levels:
S1: 83.93 (76.4% Fib)
S2: 83.24 (5-DMA)
S3: 82.78 (61.8% Fib)
Major Resistance Levels:
R1: 84.75 (200-month MA)
R2: 84.90 (88.6% Fib)
Summary: AUD/JPY trades with a bullish bias. Price action is on track to test 200-month MA at 84.75.