AUD/JPY powers through 84.39/46 minor resistance today, as rise from 83.02 resumes. Further rally is now expected as long as 83.73 support holds. At this point, it’s unsure whether consolidation pattern from 85.43 has completed already. Hence, we’d pay attention to topping at around 85.43. Though, eventually, the whole up trend from 59.89 is expected to resume sooner or later. It’s just a matter of time. Next medium term target is 61.8% projection of 73.13 to 85.43 from 83.02 at 90.62.
Similarly, NZD/JPY is also resuming rise from 75.61 today, and hits as high as 78.36 so far. Further rally is expected as long as 77.38 minor support holds, for retesting 79.19 high. We’d also be cautious on topping around there. But eventually upside breakout is anticipated. Next medium term target is 61.8% projection of 68.86 to 79.19 from 75.61 at 81.99.
