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On the 4-hour chart, the AUD/JPY cross currency pair appears to have a Descending Broadening Wedge pattern and divergence between the AUD/JPY price movement and the Awesome Oscillator indicator, so based on these two pieces of information, it confirms that in the near future AUD/JPY has the potential to strengthen upwards where the 96.69 level will try to be tested and broken. If it turns out that AUD/JPY successfully closes above that level, then as long as there is no significant weakening again, especially if it weakens down & breaks through and closes below the 95.01 level, AUD/JPY will continue to strengthen again to the 97.52-97.67 area, even if the momentum of strengthening and volatility support it, it is not impossible that AUD/JPY will continue to strengthen again to the 98.50 level.
(Dsiclaimer)
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