• AUD/ JPY steadied around 98.54 on Monday as focus shifted to next week's UK inflation data and central bank meeting.
• The Bank of Japan (BOJ) left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That decision
• With Japan closed for Autumnal Equinox Day, trade was primarily influenced by expectations surrounding further Fed rate cuts.
• Immediate resistance is located at 99.05 ( 38.2% fib), any close above will push the pair towards 99.92 (Higher BB).
• Immediate support is seen at 97.90 (Daily low) and break below could take the pair towards 97.32 (50% fib).
Recommendation: Good to buy around 98.40, with stop loss of 98.60 and target price of 99.00
