AUDJPY Wave Analysis 31 December, 2020

• AUDJPY broke key resistance level 78.45

• Likely to rise to 80.00

AUDJPY recently broke above the key resistance level 78.45 (which stopped the sharp uptrend at the end of August as can be seen below).

The breakout of resistance level 78.45 is aligned with the prevailing daily uptrend and added to the bullish pressure on this currency pair.

AUDJPY index is expected to rise further to the next round resistance level 80.00 (likely price for the completion of the active impulse wave (3).