200-DMA caps upside in AUD/JPY, break above to target 81.50
AUD/JPY fails to hold gains above 200-DMA, edges lower from session highs at 80.31.
Momentum studies are bullish, break above likely to test 81.50 levels.
On the flipside, break below 20-DMA at 79 could see drag upto 77.45 (rising trendline)
Major support levels - 79.45 (5-DMA), 79(20-DMA), 78.72 (Oct 21 low)
Major resistance levels - 80.12 (200-DMA), 80.79 (June 1 high), 81, 81.50 (trendline)
Good to go long on breakout above 200-DMA at 80.12, SL: 79.40, TP: 80.75/81/81.50
Momentum studies are bullish, break above likely to test 81.50 levels.
On the flipside, break below 20-DMA at 79 could see drag upto 77.45 (rising trendline)
Major support levels - 79.45 (5-DMA), 79(20-DMA), 78.72 (Oct 21 low)
Major resistance levels - 80.12 (200-DMA), 80.79 (June 1 high), 81, 81.50 (trendline)
Good to go long on breakout above 200-DMA at 80.12, SL: 79.40, TP: 80.75/81/81.50