FX.co ★ AUD/JPY

Hello traders, the Japanese yen is trying to strengthen its position, including in the AUDJPY currency pair. Well, for now, it's just a pullback, although who knows what plans the Japanese currency has, it's unpredictable. In fact, it turns out that the price of AUDJPY has been held within a narrow range of 100+/- between the levels of 94.80-93.70 for several weeks (with a small margin of error). A breakout to the upside seems more realistic. After buyers successfully break through 94.80-95.00, the path to 95.50 will open up, and then to around 96.00 - where the resistance is more significant. If sellers manage to turn the pullback into a full-fledged decline, that is, break out of the range to the downside, then after a successful consolidation below 93.70, selling with targets at levels of 93.25 and possibly 92.25 will become relevant. When approaching 93.80-93.70, it will also be necessary to watch the reaction; it is possible that the price will remain inside the range, so one can try to buy on a bounce with the aim of rising to the upper boundary (94.80) and then consolidating above it.