AUDJPY Wave Analysis – 24 January, 2023

• AUDJPY reversed from key resistance level 92.00

• Likely to fall to support level 90.00

AUDJPY currency pair recently reversed down from the key resistance level 92.00 (which stopped the two of the previous minor waves -1 and b) intersecting with the upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from October.

The downward reversal from the resistance level 92.00 stopped the earlier minor impulse wave 3 of wave (C) from December.

Given the strength of the resistance level 92.00, AUDJPY currency pair can be expected to fall further toward the next round support level 90.00.