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If we look at the 4-hour chart, the AUD/JPY cross currency pair appears to be moving in a Ranging-Sideways condition, but is currently strengthening again after testing the support level of 99.47, which has been confirmed by the appearance of deviations from the AUD/JPY price movement with the MACD Histogram indicator so that as long as there is no further weakening, especially if it falls and closes below the 99.71 level, then AUD/JPY has the potential to strengthen to the 101.51 level and if the momentum and volatility support it, AUD/JPY has the potential to go to 102.34.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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