AUD/JPY: Big level looming at 92.50

There is solid technical resistance at 92.50 in AUD/JPY (see chart) but a clean break above there could certainly change the short-term outlook and strengthen the case that an interim low was formed at 89.50.

The market is heavily short of the AUD, and feeling quite comfortable it seems, but is it comfortable being short AUD/JPY? I think we may find that out today.