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  |   Technicals


FxWirePro: AUD/JPY Daily Outlook

AUD/JPY chart - Trading View 

Technical Analysis: Bias Bullish

GMMA Indicator

- Major trend is bullish

- Minor trend is neutral

Ichimoku Analysis

- Price action is above cloud on the daily charts and Chikou span is biased higher

- The pair is hovering around cloud top on the weekly charts and decisive break will propel the pair higher


- Stochs and RSI are biased higher 

- RSI is above 50 and supports uptrend 

Bollinger Bands

- Bollinger bands are narrow, suggest less volatility

Major Support Levels: 75.17 (21-EMA), 74.51 (50-DMA)

Major Resistance Levels: 75.60 (110W EMA), 78.67 (61.8% Fib)

Summary: RBA left monetary policy unchanged with a 0.25% cash rate, decision-makers showed readiness for further policy accommodation. The pair trades with a slight bullish bias. Breakout at 110W EMA will buoy bulls. Scope for test of 61.8% Fib at 78.67.

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