AUDJPY: ⬆️ Buy
– AUDJPY reversed from key support level 109.00
– Likely to rise to resistance level 111.00
AUDJPY currency pair recently reversed up from the support zone between the key support level 109.00 (which stopped wave (4) at the end of March and wave (A) at the start of August), support trendline of the daily down channel from the end of August and the lower daily Bollinger Band.
The upward reversal from this support zone completed the short-term wave a and started the active corrective wave b.
Given the strength of the support level 109.00 and the bullish divergence on the daily Stochastic oscillator, AUDJPY currency pair can be expected to rise further toward the next resistance level 111.00–which intersects with the resistance trendline of the aforementioned daily down channel.
 at the end of March and wave (A) at the start of August), support trendline of the daily down channel from the end of August and the lower daily Bollinger Band.){kind=link}