AUD/JPY Continues Upward Move, Targets Level 79.36

Key Resistance Levels: 74.00, 76.00, 78.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Bullish
The AUD/JPY pair is now in an upward move. The pair is in a strong uptrend. On November 9, a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that the pair is likely to rise to level 1.618 Fibonacci extensions. That is a high of 79.36.

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the upward move. The pair has risen to level 70 of the Relative Strength Index period 14. This indicates that the Yen is in the uptrend zone and above the centerline 50.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an upward move. On November 9 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the pair is likely to rise and reach level 1.618 Fibonacci extensions. That is a high of 78.49.

4-hour Chart Indicators Reading
The AUD/JPY pair is currently above the 80% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The pair has fallen to an overbought region of the market. There is a likelihood of sellers emerging in the overbought region.

General Outlook for AUD/JPY
The AUD/JPY pair has been in an upward move. The price action is indicating an upward movement of the pair. Nonetheless, the pair has a target price of either 78.49 or 79.36 price level.


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