AUDJPY Chart Technical outlook 98.38 is a confluence zone
The AUD basket highlights buying dips. The JPY basket highlights selling rallies. Correlation studies suggest buying dips in AUD/JPY.
I have bespoke support at 98.38. I have the projected AB leg of a Bat formation located at 98.38. This is the prime long entry level.
This is regarded as a high-risk setup with Bank of Japan officials expressing concern about the Yen’s weakness. The end of the BC leg is also hard to predict.
