Now, $AUDJPY is about to test a weekly , which is also an important psychological number and the completion zone of a weekly trading pattern
It may take some time to develop, but $AUDJPY is maybe setting another weekly reversal.
Now that $AUDJPY is approaching 80 again, it may create a weekly Kiss of Life setup that will be even more powerful than the previous setup.
In order not to try and catch a "falling knife", the key is to either wait for a weekly reversal pattern or at least a daily one. As you can the latest rally that led AUDJPY from 80 to 87 started after a daily pattern
There are rumors and talks about another BOJ intervention to weaken the JPY. I'm not sure that they have any tools left in their arsenal but no doubt that BOJ intervention can be the trigger that will send $AUDJPY towards its final weekly target zone - 90-91.
Tomer, The MarketZone
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