Mihai_Iacob

AudJpy- Will it rise above 100 figure?

Long
OANDA:AUDJPY   Australian Dollar / Japanese Yen
Since the end of March low, AudJpy, like all Jpy's pairs has entered a strong up trend.
However, unlike most of the other pairs, Aussie failed to make a new high against Jpy counterpart, at least yet...
Technically, the trend is strongly up and, since the 92 low, the price action is contained in a symmetrical triangle.
The pattern suggests continuation and with Jpy's weakness expected to continue, here also we could have a break above resistance.
I'm bullish AudJpy as long as the price stays above 96 and I expect a move above 100.

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