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Aud/Jpy looks to challenge recent highs, as we see an upward channel on the weekly chart:
Aud/Jpy weekly chart
On the daily chart we can see a lot of bullish pressure as every move down leads to heavy buying
hence the long shadows on the candles,
we also find that Fibonacci expansion 61.8% of the latest move up
leads us to a target area to break the previous highs:
Aud/Jpy daily chart
Aud/Jpy weekly chart
On the daily chart we can see a lot of bullish pressure as every move down leads to heavy buying
hence the long shadows on the candles,
we also find that Fibonacci expansion 61.8% of the latest move up
leads us to a target area to break the previous highs:
Aud/Jpy daily chart