AUDJPY has been consolidating within a 2-month symmetrical triangle (as shown on the 240 minute chart) following the upswing from the April lows. While the 94.94 support area (June 17, 2015 low) near the triangle lower bounds holds, an upside break through 96.71 (near the triangle upper bounds) would confirm a bullish triangle breakout and extend the 3-month uptrend towards 96.98 then 97.29. However, failure to hold 94.94 would defer the upside and shift the focus lower towards the 93.55 support.
Outlook:
Short term: neutral
Long term: bullish
Outlook:
Short term: neutral
Long term: bullish
