Categories: 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.

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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Tags: AUDJPY

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