AUD/JPY Chart Technical Outlook waits for the RBA decision to resume the bullish trend
AUD/JPY broad bias is bullish. JPY is under pressure, while AUD awaits more clues from the scheduled RBA meeting tomorrow. A 25 bps hike is expected but not fully priced, while some expect a pause.
I expect the 25 bps hike, which should trigger strength in AUD.
The reasons: A still high inflation figure, recent tight labor data, a hot wage growth.
Resistances: 96.90, 97.60
Supports: 95.60, 94.90, 94.00