AUDJPY Wave Analysis – 31 August, 2020

• AUDJPY broke resistance level 76.45

• Likely to rise to 78.90

AUDJPY continues to rise inside the upward impulse wave C which recently broke the key resistance level 76.45 (which has been steadily reversing the price from the end of 2019).

The breakout of the resistance level 76.45 continues the active multi-month upward ABC correction (B) from July.

AUDJPY is expected to rise further toward the next resistance level 78.90 (former minor resistance from April of 2019).