AUDJPY Wave Analysis – 9 December, 2022

• AUDJPY reversed from support level 91.00

• Likely to rise to resistance level 94.00

AUDJPY recently reversed up from the multi-month support level 91.00 (which has been reversing the price from the start of August).

The support level 91.00 was further strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the extended upward impulse from last February.

Given the predominant uptrend, AUDJPY can be expected to rise further toward the next resistance level 94.00 (top of wave (iv) from last month).