AUDJPY 96.55: Rising triangle breakout projects higher

AUDJPY broke out of a rising triangle consolidation pattern on the upside, extended the strong rebound off the 90.46 higher low (April 15, 2015) to retrace over 50% of the 102.83/89.36 fall. Further gains open the 98.29 lower high (December 29, 2014, near 61.8% retracement of the 102.83/89.36 fall) ahead of 99.66 (76.4% retracement of the 102.83/89.36 fall). Immediate support level lies at 94.45 (May 11, 2015 intraday low). Below rests the 93.55 higher low (May 5, 2015).
Outlook:
Short term: bullish
Long term: neutral