With the appearance of the Bullish 123 pattern followed by the Bullish Ross Hook (RH) on the 4-hour chart and followed by the price movement of AUD/JPY moving above the WMA (30 Shift 2) which also has a slope that dives upwards indicating that buyers have started to enter the currency pair, thus providing an opportunity for AUD/JPY to appreciate and strengthen upwards where the level of 96.15 will be tested in the near future if this level is successfully broken upwards then AUD/JPY has the opportunity to continue its strengthening to 98.13 and if the momentum and volatility support then the level of 100.11 is not impossible to test further but please note that with the appearance of deviations between the price movement of AUD/JPY and the Stochastic Oscillator indicator (5,3,3) then there is the potential for AUD/JPY to weaken again but as long as the weakening does not break below 93.50 then AUD/JPY still has the opportunity to strengthen as previously described.
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