• AUD/JPY dipped on Friday as the Japanese yen strengthened following Ishiba's victory in the leadership race to become the next prime minister of Japan.
• Attention is shifting to the increasing likelihood that Japan's next prime minister may prioritize economic stimulus measures.
• By 05:42 GMT, Australian dollar was up 0.60% against the yen to 98.65 reversing course from daily high at 100.65.
• Immediate resistance is located at 100.24 (23.6% fib), any close above will push the pair towards 101.10 (Higher BB).
• Immediate support is seen at 98.71(50% fib) and break below could take the pair towards 97.06 (61.8% fib).
Recommendation: Good to sell around 98.70, with stop loss of 99.50 and target price of 98.00
