Technical analysis

AUDJPY Wave Analysis – 2 November, 2021

AUDJPY Wave Analysis – 2 November, 2021

• AUDJPY reversed from resistance level 85.75

• Likely to fall to support level 84.00                                                                          

AUDJPY currency pair continues to fall after the price reversed down from the major resistance level 85.75 (which has been reversing the price from the start of May).

The resistance zone near the resistance level 85.75 was strengthened by the upper daily Bollinger Band.

Given the strength of the resistance level 85.75, strong yen inflows, AUDJPY can be expected to fall further toward the next support level 84.00.

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