AUDJPY Wave Analysis

  • AUDJPY reversed from support area
  • Likely to rise to resistance level 103.00

AUDJPY currency pair recently reversed up from the support area lying between the round support level 100.45 (former strong resistance from April), 20-day moving average and the 50% Fibonacci correction of the upward impulse from February.

The upward reversal from the support level 100.45 stopped the previous short-term retracement 4.

Given the predominant daily uptrend and strong yen sales, AUDJPY currency pair can be expected to rise further to the next resistance level 103.00.

FxPro
FxProhttp://www.fxpro.co.uk/?ib=606792
FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading