Australian Dollar vs Japanese Yen Tests Key Resistance!Australian Dollar vs Japanese YenCFI:AUDJPYCFIThe AUD/JPY pair is currently trading near the 114.35 level on the 4-hour timeframe, as it tests a significant horizontal resistance level for the third time in two months, supported by an ascending trendline. Are We Facing a Triple Top or an Ascending Triangle? The chart shows two previous rejections from the supply zone between 114.35 and 114.50 (highlighted by the red arrows), while the current price action (marked by the question mark) is once again testing this price ceiling. However, unlike the sharp decline seen in late April, the pair is now supported by a rising trendline, reflecting growing bullish pressure. Moving Average Support: Price remains firmly above the 100-period Simple Moving Average, which has gradually shifted from a resistance level into dynamic support throughout May. Volume Analysis: Relative trading volume has remained stable during the current upward move. However, a breakout above the 114.50 level would require a notable increase in volume to confirm a genuine shift in trend. Fundamental Outlook: US-Japan Coordination In a notable development, US Treasury Secretary Scott Bessent met with Japanese Finance Minister Satsuki Katayama in Tokyo on May 12, where both sides emphasized ongoing close coordination to address sharp market volatility. Analysts believe these high-level meetings signal implicit support from Washington for Japan’s intervention efforts in the markets, serving as a strong deterrent against speculators betting on further yen weakness.