January 22nd, 2012: AUD/JPY pair seems to get some life after many days. The currency pair broke over the resistance of 79.75 first and then 80.52 and then it moved to 80.87. Now we look forward to some more upward move towards 81.40/81.50. On the upside any strong break over 81.50 should take AUDJPY towards the next resistance zone between 82.45 to 82.80.
On the downside, now, any break below 79.40 will make the short-term outlook neutral again and in that case we shall look for some more downward moves but with frequent supports till the currency pair breaks below 77.85. But this neutral outlook will start becoming bearish only with a break of 76.98/76.95.
You may also check daily technical analysis of aud/jpy and the weekend audjpy forecast at ForexAbode.com.