Market Snapshots

AUDJPY Wave Analysis – 12 April, 2019

AUDJPY Wave Analysis – 12 April, 2019
  • AUDJPY broke resistance area
  • Further gains are likely

AUDJPY recently broke through the resistance area lying between the key resistance level 79.70 (which has been reversing the price from January), 100-day moving average and the 50% Fibonacci correction of the previous downward impulse from November.

The breakout of the resistance area accelerated the active short-term impulse wave 3.

AUDJPY is expected to rise further and re-test the next resistance level 81.00 (target price for the completion of the active impulse wave 3).

Source: FxPro

Article Rating