Categories: Technical analysis

AUDJPY Wave Analysis – 7 September, 2022

• AUDJPY broke key resistance level 96.65

• Likely to rise to resistance level 98.00

AUDJPY currency pair recently broke the key resistance level 96.65 (previous multi-month high from the start of June).

The breakout of the resistance level 96.65 should accelerate the active impulse waves 3 and (3).

Given the clear daily uptrend and continuation of the widespread yen sales – AUDJPY can be expected to rise further toward the resistance level 98.00 (target price for the completion of the active impulse wave (3)).

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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