AUDJPY gaining strength

After a period indecision the AUDJPY pair seems to gain some more momentum to break above its previous high (A). On the 4 hour chart two big green candlesticks were printed, indicating a bullish pressure.

If the price manages to climb above point A, there would be a good chance to rise towards the 84.00 level, which is a two year old resistance level. The Relative Strength Index is not in overbought territory yet, which allows the upside movement. The bears tried their luck on the downside several times, causing short term spikes, but price eventually bounced back and is pushing higher. In case the course would fall below area B, it could fall to the 81.30 – 81.05 support zone (C).