AUDJPY Bullish Breakout supported at 92.00The AUD/JPY pair is currently maintaining a bullish bias, underpinned by an ongoing uptrend. Recent price action shows sideways consolidation, typically a sign of trend continuation when occurring within an established bullish structure.
Key Level: 91.50
This level marks a prior consolidation zone and now acts as a critical support area.
Bullish Scenario (bounce from 91.50):
A corrective dip to 91.50 followed by a strong bounce would support the bullish continuation.
Upside targets include:
94.20 – Immediate resistance
94.90 – Previous swing high
95.90 – Longer-term resistance
Bearish Scenario (break below 91.50):
A daily close below 91.50 would weaken the bullish outlook.
In this case, downside support levels include:
90.50 – Initial retracement target
89.40 – Deeper support zone
Conclusion
The outlook for AUD/JPY remains bullish while price holds above the key 91.50 support level. A successful bounce from this zone could lead to a retest of higher resistance levels at 94.20 and above. However, a confirmed break below 91.50 would shift sentiment to neutral-to-bearish, potentially triggering further declines toward 90.50 and 89.40. Traders should monitor price behavior at 91.50 for near-term directional cues.
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