AUD/JPY Technical Analysis: Bulls await ascending triangle breakout

• The AUD/JPY pair has charted an ascending triangle on the hourly chart.
• A break above 81.76 (triangle resistance) would signal a continuation of the rally from the low of 80.57 and would open the doors to a sustained rally above 82.00 (psychological level).
• On the downside, only a daily close above the ascending (bullish) 10-day moving average (MA) of 81.16 would weaken the bullish view.

Hourly chart

Spot Rate: 81.64

Daily High: 81.71

Daily Low: 81.51

Trend: Bullish above 81.76

Resistance

R1: 81.76 (ascending triangle hurdle)

R2: 81.91 (50-day MA)

R3: 82.34 (100-day MA)

Support

S1: 81.54 (50-hour MA)

S2: 81.18 (triangle low)

S3: 81.08 (200-hour MA)