Technical analysis

AUDJPY Wave Analysis 4 May, 2021

• AUDJPY reversed from resistance level 84.50

• Likely to fall to support level 83.00

AUDJPY recently reversed down from the pivotal resistance level 84.50 (which has been repeatedly reversing the price from the start of April).

The resistance area near the resistance 84.50 was further strengthened by the upper daily Bollinger Band.

AUDJPY is likely to fall further toward the next support level 83.00 (low of the previous waves 2 and (ii)).

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