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Technical analysis for the AUD/JPY, the pair broke above the high of 2021, resuming the bullish wave on the weekly chart. The third target for that wave is the 2.272 FIB extension at 89.10. The fourth target is at the high at 90.30. The fifth target is the 2.618 FIB extension on the weekly chart at 92.35. And above that, we have the 0.786 FIB retracement on the monthly chart at 93.70, where the AUD/JPY is facing descending trend line.
The AUD/JPY is overbought on the daily chart and in need of pullback. In case of pullback, the focus will be on the support zone between 85.25-86.26.
Weekly chart:
Monthly chart: