Categories: Technical analysis

AUDJPY Wave Analysis – 3 October, 2022

• AUDJPY reversed from long-term support level 92.35

• Likely to rise to resistance level 94.00

AUDJPY recently reversed up from the long-term support level 92.35 (which has been reversing the pair from the middle of June), strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from February.

The upward reversal from the support level 92.stopped the previous short-term corrective wave (ii).

Given the clear daily uptrend, AUDJPY can be expected to rise further toward the next resistance level 94.00 (earlier resistance from the end of September).

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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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