AUD/JPY Price Analysis: Price Pressure near 81.30 with multiple resistance

• AUD/JPY continues to march higher on Tuesday in the early European trading hour.
• The cross-currency pair reaches a strong resistance area near 81.30.
• MACD indicates further upside remains intact.

AUD/JPY refreshes daily gains near 81.30 on Tuesday extending the previous session’s gains. The pair touched the intraday low near 80.65 only to travel back to the intraday high of 81.31, where it currently hovers. 

AUD/JPY daily chart

Technically speaking, after testing the lows of 78.85 for two consecutive sessions on September 21 and 22 the pair continued to march higher for the past week. Currently a break of the bearish sloping line from the high of 81.99 made on September 7 would confirm the continuation of the upside momentum further till the high made on September 8 at 81.64.

The Moving Average Convergence Divergence (MACD) reads just near the midline. Any uptick in the MACD would amplify the buying pressure toward the 82.00 horizontal resistance level followed by the level last seen in July at 82.33 (July 15).

Alternatively, on the lower side, the first downside target could appear at the 50-day Simple Moving Average (SMA) at 80.52. A daily close below the mentioned level would invite a low made on Friday at 80.00.

Next, AUD/JPY bears would attempt to retest the 79.50 horizontal support level.

AUD/JPY techncial levels