Sat, Jan 28, 2023 @ 16:26 GMT

AUDJPY Wave Analysis

  • AUDJPY reversed from key resistance level 92.00
  • Likely to fall to support level 90.00

AUDJPY currency pair recently reversed down from the key resistance level 92.00 (which stopped the two of the previous minor waves -1 and b) intersecting with the upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from October.

The downward reversal from the resistance level 92.00 stopped the earlier minor impulse wave 3 of wave (C) from December.

Given the strength of the resistance level 92.00, AUDJPY currency pair can be expected to fall further toward the next round support level 90.00.

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