- AUDJPY reversed from support area
- Likely to rise to resistance level 103.00
AUDJPY currency pair recently reversed up from the support area lying between the round support level 100.45 (former strong resistance from April), 20-day moving average and the 50% Fibonacci correction of the upward impulse from February.
The upward reversal from the support level 100.45 stopped the previous short-term retracement 4.
Given the predominant daily uptrend and strong yen sales, AUDJPY currency pair can be expected to rise further to the next resistance level 103.00.
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