Further to the earlier view that the AUDJPY pair was neutral, we have now adopted a bullish bias for the pair. AUDJPY pair appears to have traced out a bullish structure with current price action having acted like a bounce off 81.696/81.386 critical support zone. Next move appears to be shaping up for what looks like final wave 5 of a possible initial impulse. Target is actually 38.2% (87.265) expansion of the move from 72.399 to 87.330 @ 81.590 first. Daily close above that level should target 61.8% (90.772) expansion level and further close above that level should see 100% (96.447) expansion level.
