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AUD/JPY chart - Trading View
AUD/JPY edges higher for the 2nd straight session, bias turning bullish.
The pair has bounced off strong support at daily cloud and 50-DMA.
Australia's PM Morrison's economy re-opening plan and RBA's SoMP fuel optimism and support gains.
Cooling tensions between the US and China haven seen diminishing bids for the safe haven Franc.
Price action has broken above 55-EMA, technical indicators are turning bullish. RSI is above 50, biased higher and Stochs are turning.
Analysis of GMMA indicator shows major trend is neutral, while minor trend is turning slightly bullish.
Next major hurdle lies at 61.8% Fib at 70.17. Break above 110-EMA at 70.35 to see further upside.
Failure to hold above 55-EMA will see weakness. Break at daily cloud will see downside resumption.
