FxWirePro: AUD/JPY grinds higher, breakout at 200-month MA to propel the pair higher
AUD/JPY chart - Trading View
AUD/JPY was trading 0.04% higher on the day at 84.28 at around 11:30 GMT.
Previous session High/Low: 84.41/ 83.88
Previous week High/Low: 84.46/ 83.03
- GMMA indicator shows major trend is bullish and minor trend is turning bullish
- 200-month moving average is capping upside from the past 3 months
- Momentum is bullish, Stochs and RSI are biased higher, RSI is above the 50 mark
- MACD is on verge of bullish crossover on signal line
- Price action is above cloud and Chikou span is biased higher
Support levels - 83.86 (5-DMA), 83.78 (21-EMA), 82.84 (55-EMA)
Resistance levels - 84.70 (200-month MA), 85.45 (Mar high), 86
Summary: AUD/JPY pivotal at 200-month MA resistance. Watch out for decisive break above for upside continuation.