Our earlier calls (link below) has almost hit targets. The pair hit lows at 83.34 on Wednesday's trade, we advise exiting call.
- (http://www.econotimes.com/FxWirePro-Cloud-top-capping-upside-in-AUD-JPY-good-to-sell-rallies-174347).
- (http://www.econotimes.com/FxWirePro-AUD-JPY-extends-downside-after-rejection-at-cloud-top-175198).
- Weakness in JPY seen as market sentiment improves post upbeat China CPI data, thereby supporting AUD/JPY higher.
- Upside for now being capped by cloud top at 84.97, breaks above could see further gains.
- Immediate support is seen at 84.56 (5-DMA), and further below at 83.90 (Mar 7th lows).
- Resistances on the upside are aligned at 85.22 (March 9th highs), 85.40 (Jan 6th highs) and 86.15 (Feb 2nd highs).
