AUDJPY Wave Analysis – 14 August, 2019
August 14, 2019 @ 12:39 UTC
- AUDJPY reversed from resistance area
- Further losses are likely
AUDJPY recently reversed down from the resistance area lying between the resistance level 72.70 and the 38.2% Fibonacci correction of the previous downward impulse (iii) from July.
The downward reversal from this resistance zone completed the previous ABC correction (ii) – which belongs to the medium-term impulse wave (C) from April.
AUDJPY expected to fall further and retest the next support level 71.00 (low of the previous impulse wave (iii)).