AUD/JPY falling inside waves (iii) and C

AUD/JPY falling inside waves (iii) and C

  • AUD/JPY falling inside waves (iii) and C
  • Next sell target - 82.50

AUD/JPY continues to fall after the earlier breakout of support area lying at the intersection of the key support level 84.00 (which reversed the previous wave A in December), support trendline of the daily up channel from 2016 and the 38.2% Fibonacci correction of the upward impulse wave from November. The breakout of this support area intensified the bearish pressure on this currency pair.

AUD/JPY is expected to fall to the next sell target at the support level 82.50 (standing close to the 50% Fibonacci correction of the upward impulse wave from November).

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