AUD/JPY stalled at a previous high of 81.312 for the third time today. The cross has traded in a 77.897-82.028 range since July. 

AUDJPY D1 10 07 2021 1504

 

The price is above the 20-day, 50-day and 200-day simple moving averages (EMAs), which might normally be bullish. However, the 50-day EMA is above the 20-day EMA and the gradient of both lines is yet to turn positive. These factors may put bullish momentum in question.

Resistance could remain at the recent high of 81.312 and a previous top at 82.028. On the downside, support might be provided by lows at 80.009, 78.846 and 77.897.

 


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