Technical analysis

AUDJPY Wave Analysis 15 December, 2020

AUDJPY Wave Analysis 15 December, 2020

• AUDJPY reversed from resistance level 78.4

• Likely to fall to 77.00

AUDJPY recently reversed down from the powerful resistance level 78.4 (which stopped the sharp uptrend in August) – standing close to the upper daily Bollinger Band.

The downward reversal from the resistance level 78.4 stopped the previous multi-impulse price move made out of the impulse waves 3 and (3).

AUDJPY is expected to fall further toward the next support level 77.00 (former top of the impulse wave (1) from November).\

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