AUD/JPY pit stop at 5-month peaks; aims for 94.50 consolidation

FXstreet.com (Chicago) - AUD/JPY reached 94.79 5-month highs on yen’s weakening ahead of data releases and official highlights from BoJ’s Kuroka speech.

AUD/JPY Technical Levels

Technically speaking, the pair is offered t 94.58 and navigates between supports aligned at 94.45 (October 18th highs), 94.10 (October 15th highs) ahead of 93.65 (October 16th lows) and the resistances set at 94.79 (session highs), 95 (March 5th lows) followed by 95.61 (February 28th highs). On long-term charts, the pair displays a strong primary trend supported by secondary trend and yet with shorter trends diverging. Extending the bullish channel from last August 16th double bottoms (September 1st lows also), the upward trendline remains intact. Despite signs of exhaustion at 94.50 front, momentum oscillators point up along price range above the EMA20.