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AUD/JPY: long positions continue to dominate on 14.05.2015

The pair AUD/JPY has been in the uptrend since the beginning of April. Up to date, the price has grown for over 700 points (from 90.70 to 97.28). Today, at the opening of the Asian session the pair continued to rise. Given the latest economic news, tendency in the currency movement and technical analysis of the chart we can assume that the pair will continue to grow and will undergo corrections on the hourly and four-hour charts. At the same time the pair is likely to stay in the range of 117.00 – 122.00 (wide channel) and 118.50 – 121.00 (narrow channel).

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