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FxWirePro: AUD/ JPY gear up for next leg higher, eyes 99.00 level

• 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
 

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