Technical analysis

AUDJPY Wave Analysis – 21 June, 2021

• AUDJPY reversed from support zone

• Likely to rise to resistance level 84.00

AUDJPY recently reversed up from the support zone lying between the key support level 82.33 (which has been reversing the price from February) and the lower daily Bollinger Band.

This support zone was further strengthened by the 50% Fibonacci correction level of the previous upward impulse from January.

AUDJPY can then be expected to rise further toward the next resistance level 84.00 (former monthly low from the middle of May)

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