- AUD/JPY wavers around one-month high following Friday’s upbeat performance.
- Strong RSI, sustained trading beyond key SMA favor the bulls.
Following its uptick to a fresh high since January 08, AUD/JPY stays firm around 80.85 during the initial Asian trading on Monday. In doing so, the quote keeps its upside momentum beyond 21-day and 50-day SMA amid strong RSI conditions.
Also favoring the mood could be Friday’s strong rise that marked the highest daily closing since December 2018.
As a result, the AUD/JPY bulls eye an upward sloping resistance line from June 2020, currently around 81.55. However, the 81.00 round-figure guards the immediate upside.
During the quote’s run-up past-81.55, the late December 2018 peak surrounding 82.20 should gain the market’s attention.
Meanwhile, a downside break below the 21-day SMA level of 80.24 can trigger a short-term pullback towards the 80.00 threshold.
Though, AUD/JPY sellers are less likely to get interested if 50-day SMA, at 79.34 now, remains intact support.
AUD/JPY daily chart
Trend: Bullish
