AUD/JPY rises to highest levels this year as dollar, yen slips

Technical Analysis

Author: Justin Low | aud

AUD/JPY looks for a technical breakout

AUD/JPY D1 12-04
The dollar and yen just slipped across the board in rather quick fashion with not much headlines to go with it. I'm trying to find anything as the cause for the move but there doesn't look to be any clear apparent catalysts.

The most notable thing in the currency market right now is the AUD/JPY chart. Price looks poised for a breakout to the topside and has risen to its highest level since 20 December. The high reaches 79.91 and it could precipitate a more risk-on mood across markets if we do see a technical breakout here.

Market ranges are starting to stretch but they may not just break away just yet. But this is potentially a sign of where the market is leaning towards so just be aware of that in the session ahead.

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