Technical analysis

AUDJPY Wave Analysis 23 April, 2021

• AUDJPY reversed from support level 83.00

• Likely to rise to resistance level 84.50

AUDJPY recently reversed up from the pivotal support level 83.00 (which previously reversed the pair 3 times in the middle of April).

The support zone near the support level 83.00 was strengthened by the lower daily Bollinger Band.

Given the prevailing uptrend – AUDJPY is likely to rise further toward the next resistance level 84.50 (which stopped the previous impulse waves 1 and (i)).

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