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AUD/JPY Technical Analysis
The Australian dollar traded higher recently to challenge the all-important 80.0 resistance against the Japanese yen. The AUD/JPY pair is gaining momentum, and may soon break the stated resistance for an upside move.
When we look at the hourly chart of AUD/JPY, it highlights how important the 80.0 resistance is. It played a major role recently, and acted as a barrier for the buyers on many occasions.
There are a couple of positive signs to note. First, the pair is above the 100 hourly simple moving average, which may push the pair higher. Moreover, the momentum is currently with the Aussie dollar buyers, which means there is a high chance of the pair breaking the 80.0 resistance, and trading higher.
There are a couple of positive signs to note. First, the pair is above the 100 hourly simple moving average, which may push the pair higher. Moreover, the momentum is currently with the Aussie dollar buyers, which means there is a high chance of the pair breaking the 80.0 resistance, and trading higher.
Source: investing.com
The Australian dollar traded higher recently to challenge the all-important 80.0 resistance against the Japanese yen. The AUD/JPY pair is gaining momentum, and may soon break the stated resistance for an upside move.
When we look at the hourly chart of AUD/JPY, it highlights how important the 80.0 resistance is. It played a major role recently, and acted as a barrier for the buyers on many occasions.
There are a couple of positive signs to note. First, the pair is above the 100 hourly simple moving average, which may push the pair higher. Moreover, the momentum is currently with the Aussie dollar buyers, which means there is a high chance of the pair breaking the 80.0 resistance, and trading higher.
There are a couple of positive signs to note. First, the pair is above the 100 hourly simple moving average, which may push the pair higher. Moreover, the momentum is currently with the Aussie dollar buyers, which means there is a high chance of the pair breaking the 80.0 resistance, and trading higher.
Source: investing.com