Technical analysis

AUDJPY Wave Analysis 22 February 2024

– AUDJPY broke long-term resistance level 98.40

– Likely to rise to resistance level 100.00

AUDJPY currency pair recently broke the major long-term resistance level 98.40 (previous yearly high from 2022 and 2023).

The breakout of the resistance level 98.40 should accelerate both of the active impulse waves 3 and (3).

Given the multiyear uptrend and the continuation of the strong yen sales, AUDJPY currency pair can be expected to rise toward the next round resistance level 100.00.

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