AUD/JPY reversed from support area

AUD/JPY reversed from support area

  • AUD/JPY reversed from support area
  • Next buy target - 90.00

AUD/JPY recently reversed up from the support zone lying between the strong support level 88.00 (former strong resistance level which stopped the previous intermediate wave (A) in the middle of February, as can be seen below) and the 38.2% Fibonacci correction of the previous sharp upward impulse form the start of July. AUD/JPY is expected to rise to the next buy target at the next round resistance level 90.00 (target price calculated for the completion of the active impulse wave 3).

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