Categories: Technical analysis

AUDJPY Wave Analysis 15 December, 2020

• AUDJPY reversed from resistance level 78.4

• Likely to fall to 77.00

AUDJPY recently reversed down from the powerful resistance level 78.4 (which stopped the sharp uptrend in August) – standing close to the upper daily Bollinger Band.

The downward reversal from the resistance level 78.4 stopped the previous multi-impulse price move made out of the impulse waves 3 and (3).

AUDJPY is expected to fall further toward the next support level 77.00 (former top of the impulse wave (1) from November).\

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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