AUD/JPY remain bullish with price testing pullback support

We remain bullish looking to buy above major support at 87.53 (Fibonacci retracement, horizontal swing low support, pullback support) for a push up to at least 88.02 resistance (Fibonacci retracement, horizontal swing high resistance).

RSI (34) has broken out of a descending resistance-turned-support line signaling that a change in momentum is fast approaching.

Correlation analysis: We are seeing JPY weakness across the board with bounces expected on EUR/JPY, AUD/JPY, and USD/JPY.

Buy above 87.53. Stop loss is at 87.32. Take profit is at 88.02.


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