BUY AUDJPY – 108.768

The trade is triggered by an Asian‑session false break to the downside that was quickly rejected, forming a bullish engulfing‑type structure around 108.70. On the 4‑hour chart a London‑session market‑structure‑shift (MSS) reversal also confirms the change of bias, with the price breaking above the recent swing high and holding above the 108.65 structural support. Volume spikes on the breakout indicate strong buying pressure, and the multi‑timeframe view is neutral, reinforcing that the move is not a short‑term anomaly. On the fundamental side, the recent BoJ‑Ueda meeting left the yen under pressure while the US dollar index has stabilised after the CPI release, reducing downside risk for the AUDJPY pair. Commodity‑linked risk appetite remains supportive of the Australian dollar. With a tight stop at 108.648 and three incremental profit targets (108.852, 108.924, 109.068), the risk‑reward profile is attractive, justifying a high‑conviction long position.