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  • 100-day SMA and 61.8% Fibo. hold the gate for the pair’s rise towards 79.60 and 80.00.
  • Failure to cross the key resistance confluence can recall 78.10 on the chart.

AUD/JPY is taking the rounds near 78.80 during the early Asian session on Tuesday. The quote is gradually rising towards 78.95/79.00 resistance-confluence comprising 100-day simple moving average (SMA) and 61.8% Fibonacci retracement of its December 2018 to January 2019 drop.

Should prices manage to clear 79.00 upside barrier, 79.60 and 200-day SMA near 80.00 could reappear on the chart while 80.65/70 horizontal area might confine additional rise.

In a case where bulls dominate the sentiment and cross 80.70, 81.30 and 81.60 seem to grab the spotlight.

If at all the pair fails to surpass 79.00, 78.50 and 78.10 could entertain short-term sellers ahead of challenging them with 77.50/45 area including multiple lows marked since January 14.

Also, pair’s decline under 77.45 could further push bears to aim for 77.00, 76.00 and 75.40 during extra south-run.

AUD/JPY daily chart

Trend: Pullback expected