AUD/JPY rises further above 95.50

FXStreet (Córdoba) - The AUD/JPY climbed on Monday to 95.71, reaching the highest price since April 23. The Aussie has been able to erase Friday’s losses and is extending the rally that started May 5.

Technical outlook for the AUD/JPY

On Friday the AUD/JPY found support barely above 95.00, and turned again to the upside. In the short term the pair remains bullish, moving toward 96.00, that is a key resistance level. A week ago the pair fell to 94.25 but then stabilized, breaking on Thursday above 95.00/15, gaining support to extend gains.

In the short term the immediate support lies at 95.35/40 and below here an hourly uptrend line that currently stands at 95.20, followed by 95.00.