Technical analysis

AUDJPY Wave Analysis 13 November 2023

– AUDJPY reversed up from key support level 96.00

– Likely to rise to resistance level 35000.00

AUDJPY currency pair recently reversed up from key support level 96.00 (former strong resistance from September) coinciding with the 38.2% Fibonacci correction of the upward impulse from October.

The upward reversal from the support level 96.00 continues the active impulse wave 3 of the intermediate impulse wave (3) from the start of October.

Given the predominant daily uptrend, AUDJPY currency pair can be expected to rise further toward the next resistance level 35000.00, former multi-month high from June.

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