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  • The Aussie surged against the safe-haven Yen late Wednesday as broader markets saw a recovery in risk appetite.
  • The AUD, heavily tied to metals prices, is seeing support from commodities as markets adjust to the hawkish outlook provided by the US’ Fed head Powell.
  • The AUD/JPY is approaching a common consolidation point on the Daily candles, traders should be on the lookout for a rollover into a new leg lower.

AUD/JPY Chart, 15-Minute

Spot rate:   83.50
Relative change:   0.06%
High:   83.50
Low:   83.37
Trend:   Bullish
Support 1:   83.37 (current day low)
Support 2:   83.10 (61.8% Fibo retracement level)
Support 3:   82.83 (previous day low)
Resistance 1:   83.54 (previous day high)
Resistance 2:   83.67 (current week high)
Resistance 3:   83.98 (June 13th swing high)