AUD/JPY Technical Analysis: Break of immediate resistance favor further upside towards 78.55/60
|- AUD/USD is on bids around 78.50 during early Tuesday.
- The pair broke a weeklong descending trend-line stretched since March 21 and is currently heading towards 78.55/60 resistance area comprising lows of March 14 and 21.
- Should buyers manage to hold the strength after 78.60, 61.8% Fibonacci retracement of the downturn from March 18 to 25 can challenge further upside at 78.70.
- In a case where prices rally beyond 78.70, there are multiple resistances near 79.00 round-figure to conquer for the bulls ahead of aiming to revisit the current month high surrounding 79.40.
- Meanwhile, 78.30 and 78.00 could entertain sellers during the pair’s pullback.
- Given the quote slips beneath 78.00, 77.80 and recent lows around 77.50 can flash on their radar ahead of highlighting 77.00 for bears.
AUD/JPY hourly chart
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