Another strong employment report for Australia helped the Aussie dollar gain traction on Thursday. And with Wall Street stocks remaining supported amid a weak-yen environment, AUD/JPY could be nearing a bullish breakout.

AUD/JPY found support at the 200-day SMA on Wednesday and formed a bullish engulfing candle on Thursday. The 2-year AU-JP yield differential also appears set for another leg higher, which could help AUD/JPY break out of a potential bull flag.

The 102 handle sits near the monthly R1 pivot, making it an interim target. A break above which brings the June low and 103 handle into focus.

- Bulls could seek dips to the 100 handle and target the 102 and 103 handles
- A downside risk for this pair is if we enter a period of risk off
- A break beneath Wednesday's low invalidates the bullish bias


MS
audAUDJPYaudjpyanalysisbreakoutBullish PatternsForexfxjpyPivot PointsSupport and ResistanceTrend Analysis

Aussi sur:

Publications connexes

Clause de non-responsabilité