AUDJPY Wave Analysis 1 October, 2020

• AUDJPY rising inside corrective wave 2

• Likely to rise to 76.60

AUDJPY continues to rise inside the short-term corrective wave 2, which started earlier from the key support level 74.00.

The active wave 2 belongs to the medium-term downward impulse sequence (C) from the end of August.

AUDJPY is likely to rise further toward the next resistance level 76.60 (former support from the start of September and the target price for the completion of the active corrective wave 2).