Market Snapshots

AUDJPY Wave Analysis 15 October, 2020

AUDJPY Wave Analysis 15 October, 2020

• AUDJPY broke daily up channel

• Likely to fall to 73.25

AUDJPY recently broke the support trendline of the daily up channel from the end of September – which accelerated the active impulse wave 1.

The pair is currently approaching the support level 74.00 (which started the previous ABC correction in last month).

EURCAD is likely to rise further toward the next resistance level 73.25 (former support from June and the target price for the completion of the active impulse wave 1).

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