Technical analysis

AUDJPY Wave Analysis – 13 June, 2022

AUDJPY Wave Analysis – 13 June, 2022

• AUDJPY reversed from resistance level 95.66
• Likely to fall to support level 92.00

AUDJPY currency pair recently reversed down from the strong resistance level 95.66 (which stopped the multi-month uptrend in April), coinciding with the upper daily Bollinger Band.

The downward reversal from the resistance level 95.66 created the daily Japanese candlesticks reversal pattern Bearish Engulfing.

AUDJPY can be expected to fall further toward the next support level 92.00 (target price for the completion of the active correction 2).

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