AUDJPY staged a remarkable comeback after hitting a two-year nadir of 78.55 in late October. The pair currently trades more than 400 pips above the aforementioned low, while it rose to a three-month high of 82.95 earlier on Thursday. The Tenkan- and Kijun-sen lines are positively aligned in support of a positive short-term bias. The RSI, which continues to rise in bullish territory, also lends credence to the bullish view. At marginally above 70 though, the indicator has entered overbought territory. The implication is that a near-term correction may be on the horizon. Stronger advances may meet resistance around ... (full story)