The pair was the biggest gainer for last week. AUD/JPY managed to consolidate above the key resistance 80.00 handle, clearing the path to further upswings. The rally continued and reached as high as 84.61 on friday, the highest level not seen since April. It pulled back afterward and ended the week hovering around 84.00 level.
The Aussie has been able to stay above 82.00/50, another key resistance. The next medium-term resistance could be seen between the 86.00 - 86.50 area, that stubbornly capped the surge during the first and second quarter of 2016.
The rally might take breather soon before any upswing as it has surged close to 800 pips for a considerable short time.
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