AUD/JPY bounced sharply on Thursday, snapping a 3-day losing streak with a solid bullish-range session. The rally kicked off from a bullish pinbar above 92, where the higher low reinforces support and the broader bullish case.
The 1-hour chart shows a clean breakout from an inverted head and shoulders pattern, pointing to a target around 95.50. With resistance at the April high (95.30), March high (95.75), and the 96 handle, there’s still room for bulls to run.
Dips toward 94 may offer opportunities to join the trend — but a break back below the neckline would shift the tone back to risk-off.
Matt Simpson, Market Analyst at City Index and Forex.com
The 1-hour chart shows a clean breakout from an inverted head and shoulders pattern, pointing to a target around 95.50. With resistance at the April high (95.30), March high (95.75), and the 96 handle, there’s still room for bulls to run.
Dips toward 94 may offer opportunities to join the trend — but a break back below the neckline would shift the tone back to risk-off.
Matt Simpson, Market Analyst at City Index and Forex.com
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