Wed, Dec 07, 2022 @ 13:55 GMT

AUDJPY Wave Analysis

  • AUDJPY reversed from long-term support level 92.35
  • Likely to rise to resistance level 94.00

AUDJPY recently reversed up from the long-term support level 92.35 (which has been reversing the pair from the middle of June), strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from February.

The upward reversal from the support level 92.stopped the previous short-term corrective wave (ii).

Given the clear daily uptrend, AUDJPY can be expected to rise further toward the next resistance level 94.00 (earlier resistance from the end of September).

FxPro
FxProhttp://www.fxpro.co.uk/?ib=606792
FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading