The AUDJPY fell aggressively overnight to channel support following RBA Governor Lowe’s comments about the path of the next rate move would be.
The USDJPY bounce may have stalled at the 50% retracement as we are building as ascending wedge.
The AUDJPY spiked past resistance and tagged the 61.8% key Fibonacci retracement and also the channel resistance.
The EURJPY has bounced back to the breakdown point near the 125.00 level which is a do or die level for the bulls.
USDJPY is rebounding higher after finding support at the confluence of the 88.6% Fib of the August low to the October high and the 141.4% extension of the October low to the November high.
Sometimes the best trade is “no trade” and that is probably the case with the USDJPY currently.