- AUD/JPY stays positive beyond 50% Fibonacci retracement, 200-DMA.
- The monthly top, 61.8% Fibonacci retracement offer additional upside barriers.
AUD/JPY takes the bids to 75.74 during early Tuesday morning in Asia. The quote trades successfully above 50% Fibonacci retracement of April-August fall and 200-Day Simple Moving Average (DMA).
Additionally, bullish signals from 12-bar Moving Average Convergence and Divergence (MACD) also increase the odds of the pair’s further upside.
In doing so, the current month high of 75.50 acts as the nearest resistance holding the key to July month top surrounding 76.30.
Should the Bulls dominate beyond 76.30, 61.8% Fibonacci retracement level near 76.65 will be in the spotlight.
Meanwhile, 50% Fibonacci retracement and 200-DMA level, around 75.35 and 75.07 respectively, offer short-term supports to the pair.
If at all prices slip beneath 75.07, also defy the 75.00 round-figure, an ascending trend line since early-October, near 74.20, can become the Bears’ favorite.
AUD/JPY daily chart
Trend: Bullish
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