AUD/JPY remains bid near 75.85, up 0.56% intraday, during early Monday. In doing so, the quote defies Friday’s halt to a four-day winning streak while taking a U-turn from 74.93.
Even so, the quote needs to successfully break a 200-bar EMA level of 75.91 to regain the $76.00 threshold.
Also acting as the key upside barrier is the confluence of a five-week-old falling trend line and 50% Fibonacci retracement of August 31 to September 24 downside, currently around 76.25.
On the contrary, pair’s declines below 74.93 will recall the bears targeting September 25 tops near 74.60 ahead of challenging the September month’s low of 73.97.