AUD/JPY chart - Trading View
AUD/JPY was trading 0.28% higher on the day at 77.06 at around 07:25 GMT, bias bullish.
Aussie remains supported after upbeat Q3 GDP data weakens the case for additional stimulus.
Data released earlier today showed Australia's Gross Domestic Product (GDP) rose 3.3% quarter-on-quarter in Q3, beating expectations for a growth rate of 2.6%.
Technical bias for the pair has turned bullish. After extending consolidation for the past few sessions, the pair is set to resume upside.
Price action has shown a breakout at trendline resistance. MACD is on verge of bullish crossover on the signal line on weekly charts.
Bullish 5-DMA crossover on 20-DMA adds to upside bias. Scope for test of 200W MA at 79.27. Bullish invalidation likely on retrace below daily cloud.
