Technical analysis for the AUD/JPY is showing that the pair reached both dynamic and horizontal resistance at 84.50 and rejected it with a high-test candle on the weekly chart. This and the bearish MACD divergence on the daily chart is an early signal for a potential pullback. The first target of this pullback is the 0.386 FIB retracement at 83.00, if the price break below that, it will accelerate the decline toward the previous daily low around 82.00.
On the other hand, if AUD/JPY breaks above the previous weekly high at 84.45, it will resume the bullish weekly trend and send the price toward the 2.272 FIB extension of the 3rd bullish wave at 88.60.
Weekly chart:
