AUDJPY Technical Analysis 15 October, 2021

• AUDJPY broke resistance zone
• Likely to rise to resistance level 85.45

AUDJPY currency pair continues to rise inside the accelerated impulse wave 3, which previously broke through the combined resistance zone lying between the pivotal resistance level 82.00 (which stopped the previous wave (A) at the start of September) and the 50% Fibonacci correction of the previous sharp downward ABC correction from the start of May. The breakout of this resistance zone accelerated the active impulse waves (C) and 3.

Given the continuation of the strongly bearish yen sentiment seen across the FX markets today, AUDJPY currency pair can be expected to rise further toward the next major resistance level 85.45 (previous monthly high from March and May).

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