Renewed optimism on the Asian equities alongside a recovery in gold and copper prices underpin the sentiment around the resource-linked Aussie.
While the Japanese yen remains weak on the back of risk-on rally in the Japanese stocks.
AUD/JPY trades a rising on , while on the weeklies a pattern is evidenced.
Short-term bias for the pair is higher, upside scope lies till 86.40, breaks above could then see test of 86.70 and 87 levels.
On the downside, strong support lies at 84.40 (rising ) and then at 84.12 (Mar 21st low).
Good to buy dips around 85.40, SL: 85, TP: 85.85/86/86.40