AUDJPY Wave Analysis – 24 August, 2021
August 24, 2021 @ 18:03 +03:00
• AUDJPY reversed from support zone
• Likely to rise to resistance level 80,00
AUDJPY recently reversed up from the support zone located between the support level 78.00 (former multi-month resistance from the middle of 2020) and the lower weekly Bollinger Band.
This support zone was further strengthened by the 61.8% Fibonacci correction of the upward impulse from last October.
Given the oversold weekly Stochastic, AUDJPY can be expected to rise further toward the next round resistance level 80,00.