AUDJPY Technical Analysis 8 December, 2021

• AUDJPY reversed the support zone
• Likely to rise to resistance level 83.00

AUDJPY currency pair recently reversed up from the support zone lying between the key support level 79.00 (which has been reversing the price from August), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward price impulse from the end of 2020. The upward reversal from this support zone started the active primary corrective wave (4).

Given the strength of the aforementioned support zone and the strongly bearish yen sentiment see across the FX markets today, AUDJPY currency pair can be expected to rise further toward the next resistance level 83.00 (top of wave (2) from the end of November).

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