AUDJPY Wave Analysis – 16 October 2026

AUDJPY: ⬆️ Buy

– AUDJPY reversed from key support level 109.00

– Likely to rise to resistance level 111.00

AUDJPY currency pair recently reversed up from the support zone between the key support level 109.00 (which stopped wave (A) at the start of August and wave 1 at the end of September) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the earlier sharp decline from the top of the ABC correction 2.

Given the strength of the support level 109.00 and the bullish divergence on the daily RSI indicator, AUDJPY currency pair can be expected to rise further toward the next resistance level 111.00 – which stopped the previous ABC correction 2 earlier this month.