AUDJPY Wave Analysis – ActionForex

AUDJPY: ⬆️ Buy

– AUDJPY reversed from support zone

– Likely to rise to next resistance level 113.40

AUDJPY currency pair recently reversed from the support zone between the key support level 111.25 (which stopped wave 2 in April), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse (1) from March.

The upward reversal from this support zone stopped the previous minor impulse wave C – that belongs to the ABC correction (2) from the start of June.

Given the clear daily uptrend, AUDJPY currency pair can be expected to rise to the next resistance level 113.40 (top of wave B).