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AUD/JPY trades well above 85 level, jump till 87.20 is possible

AUD/JPY has broken major resistance around 85.50 and jumped till 86.37 from that level.  Intraday weakness can be seen only below 85.70.

  • Any break below 85.70 will drag the pair further down till 85.20/84.80
     
  • Overall weakness can be seen only below 83.
     
  • On the higher side minor resistance is around 86.20 and break above targets 87.25.

It is good to buy at dips around 86.20-25 with SL around 85.70 for the TP of 87.20.

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