Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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