FX.co ★ rylee.denesik | AUD/JPY

As of today, the AUD/JPY currency pair continues to move within an ascending channel, which indicates that buyers still maintain control. After an attempt to stay below the 112.30 level, growth began. I expect that in the near future the price of the pair will move roughly in the range from 112.55 to 112.80. At the moment, the 112.55 level is the nearest resistance; if the price manages to break through this level, it may become one of the first signals that a move toward 112.80 is likely to begin, although a pullback may also occur. However, it is important to note that since the price is currently below this point, the primary scenario remains bullish.