AUD/JPY is testing daily resistance from the December 2019 high
The pair rose in trading yesterday to test daily resistance from the December 2019 high @ 76.55 but ultimately failed to breach that level ahead of the close. The resistance level highlighted also limited gains back in June as seen in the chart above.
As such, this will prove to be a key region (76.55-75) to watch for the pair and for risk sentiment in general - especially for currencies - over the next few sessions.
In the bigger picture, AUD/JPY is often a risk barometer for the market as well so a breakout here will help to validate any continuation in the risk rally we are seeing this week.
