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  • AUD/JPY may have a tough time scaling resistance at 83.04 – 61.8 percent Fibonacci hurdle of 84.54-80.63, courtesy of the bearish divergence of the hourly relative strength index (RSI).
  • But, 14-day RSI has turned bullish (above 50.00), so dips will likely be short-lived.

Hourly chart

Spot Rate: 83.00

Daily High: 83.05

Daily Low: 82.68

Trend: Mildly bearish

Resistance

R1: 83.04 (61.8 percent Fibonacci retracement)

R2: 84.16 (June 12 high)

R3: 84.54 (June 7 high)

Support

S1: 82.68 (session low)

S2: 82.53 (100-day moving average)

S3: 82.20 (5-day moving average)