Forex: AUD/JPY cracks 95.00 major resistance

FXstreet.com (Barcelona) - After spending a few hours debating on a break-up, with 2 hours into Tokyo, the AUDJPY has finally shown its hand by bursting through stiff resistance at 95.00/05, rising as high as 95.21 so far.

The breakout has its next possible stop at the 76.4% fib from the 2007-2009 decline at 95.45. A triangle pattern formed pre-break, the length of consolidation with several touches of 95.00 included and the underlying strong uptrend, all indicate for higher price projections. Any pullback towards the 95.00/05 area should offer a new opportunity to join the rally.