On the 4-hour chart, the AUD/JPY cross currency pair, although it looks a bit sideways in its movement, Buyers still have control over this cross currency pair. This is confirmed by its price movement which is moving above its SMA (50) and forming a Higher-High & Lower High so that in the near future AUD/JPY has the potential to continue its strengthening to the level of 99.11. If this level is successfully broken and closes above it, then AUD/JPY will continue its strengthening to the level of 99.25 and if the momentum and volatility of its strengthening support it, then 99.75 will be the next target for this cross currency pair unless during its strengthening journey there is suddenly a significant weakening correction that breaks through and closes below 96.88, then the current strengthening conditions will become invalid.

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