The AUD/JPY has failed to break back above 65.00 since early Jan 09 and i feel a break above this level should at least see a move to 68.00. I am a little concerned about the daily stochastic but i feel the break of 65.00 has added significance when you look at a weekly AUD/JPY chart.
If we fail to take out the 65.00 level we risk a move back to 61.20/50 which would be worth a buy with a stop below 60.70.
For now, look to buy on the break of 65.10 with a stop at 63.89 and initially targeting 68.00.
