AUDJPY: ⬆️ Buy
– AUDJPY broke resistance zone
– Likely to rise to resistance level 112.60
AUDJPY currency pair recently broke the resistance zone between the resistance level 111.20 (which stopped waves a and c of the ABC correction 2 earlier this month), the daily down trendline from the middle of September and the 61.8% Fibonacci correction of the downward impulse from the middle of September.
The breakout of this resistance zone accelerated the active upward impulse from the low of wave b in the middle of October.
Given the recent breakout of the aforementioned down trendline, AUDJPY currency pair can be expected to rise further toward the next resistance level 112.60 – which stopped the previous upward correction in the middle of September.