The AUD/JPY took out the 70.00 level with vengeance and managed a high of 72.32 this morning before coming off along with all the other JPY crosses. If anyone is still long from the break i would be raising your stop to below 70.80 for now, as a break back below here could see a dip back to 70.00 which is worth buying with a stop below 69.00. While we consolidate above 70.00 the 75.00 level and the 200DMA remain our firm targets.
