AUD/JPY Is in an Uptrend, May Breach the Resistance at Level 74.500

Key Resistance Zones: 74.000, 76.000, 78.000
Key Support Zones: 66.000, 64.000, 62.000

AUD/JPY Long-term Trend: Bullish
AUD/JPY pair is presently in an uptrend. The pair is rising as it breaks above the EMAs. A correction candle body tested the 0.382 Fibonacci retracement level. It indicates that the pair will rise and reached level 2.618. However, the pair will reach the first target at level 1.618 Fibonacci retracement level. Later it will reach the second target at the level.

Daily Chart Indicators Reading:
Presently, the pair has risen to level 60 of the Relative Strength Index period 14. It implies that AUD/JPY is on an upward move above the centerline 50. The 21-day SMA and the 50-day SMA are sloping upward. It indicates the uptrend.

AUD/JPY Medium-term Trend: Ranging
On the 4- hour chart, the price is fluctuating between levels 73 and 75. The pair is rising and approaching the high of level 75. In recent times the upward move has been facing resistance at a level 74.500.

4-hour Chart Indicators Reading
The market is presently above 70 % range of the daily stochastic. This implies that the pair is in bullish momentum. The 21-day and 50-day SMA are sloping horizontally indicating the sideways trend.

General Outlook for Italy AUD/JPY
The currency pair is rising to reach the upper price at level 75. Presently, it is facing resistance at level 74.500. AUDJPY will move up if it breaks the minor resistance at level 74.500.


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