© Dukascopy Bank SA
At the moment, AUD/JPY is sitting at the 50-bar SMA at 95.75 and is likely to surpass this formidable resistance before long taken into consideration that more than 80% of market participants are bullish on the pair. To confirm this, AUD/JPY has to bounce off the short-term SMA to approach 95.87/6.19 (four-hour PP, R1; daily R1, R2), a jump above which will push a nine-month high back to the fore.
© Dukascopy Bank SA