AUD / JPY Analysis

AUD / JPY Analysis

AUD / JPY is very close to an equivalent base, further strengthening the positive risk tone. Economists at Credit Suisse predict that the pair will rise above the 80.00 level. “In AUD / JPY, the recovery of YTD from low levels is seen at 76.80 / 77.30 in its first test. “We think that the 55-day average will be even more upward in parallel with the more than the 200-day average. Also, removing the mentioned 76.80 / 77.30 level will show that a large 'head and shoulders' base has been completed in line with the recent improvement in the sense of risk. Resistance was then seen in the medium term downtrend at 78.28, followed by the highest level of 2019 at 80.72. We can expect to see an upper limit here, but the next level can be followed as 84.03. ”- Credit Suisse