AUD/JPY stiff resistance at 110-EMA, stay long on break above
Technical Analysis: Bias Bullish
- Breaks above daily cloud
- Bounces off major trendline support at 81 levels
- Downside finds strong support at 21-EMA
- Stochs and RSI biased higher
- MACD is on verge of bullish crossover on signal line
Fundamental Factors:
- Australia retail sales arrived at +0.4% m/m, beating expectatins at +0.3%.
- Further, Australia ANZ Job Advertisements increased to 1.5% in May from previous -0.2%.
- Focus now on the Reserve Bank of Australia’s (RBA) monetary policy decision, scheduled to be held on Tuesday.
Support levels - 82.90 (55-EMA), 82.73 (21-EMA), 82.57 (5-DMA)
Resistance levels - 83.67 (110-EMA), 84, 84.48 (May 22 high)
Good to go long on break above 110-EMA, SL: 82.70, TP: 84/ 84.45/ 85/ 85.45
- Breaks above daily cloud
- Bounces off major trendline support at 81 levels
- Downside finds strong support at 21-EMA
- Stochs and RSI biased higher
- MACD is on verge of bullish crossover on signal line
Fundamental Factors:
- Australia retail sales arrived at +0.4% m/m, beating expectatins at +0.3%.
- Further, Australia ANZ Job Advertisements increased to 1.5% in May from previous -0.2%.
- Focus now on the Reserve Bank of Australia’s (RBA) monetary policy decision, scheduled to be held on Tuesday.
Support levels - 82.90 (55-EMA), 82.73 (21-EMA), 82.57 (5-DMA)
Resistance levels - 83.67 (110-EMA), 84, 84.48 (May 22 high)
Good to go long on break above 110-EMA, SL: 82.70, TP: 84/ 84.45/ 85/ 85.45
TP1 hit. Bias higher.