Nick Nasad
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AUD/JPY - Can Bullish Run Push Through Key 94.40 Level?

The AUD/JPY has pushed above its resistance level at 94.10, a sign that the recent 1-day sideways action was a bull flag, and that there is likely to be further advance.

The key for the pair is what happens as it approaches its highs from September 19th at 94.40? There is likely some supply there, and an inability to push through that high would be a key sign for the market, however, that September peak was the strongest since May, and therefore, pushing through the resistance opens up targets to the topside as can be seen in the daily chart below. 

- Nick