AUDJPY Technical Analysis Report 12 August, 2021

• AUDJPY reversed from resistance zone
• Likely to fall to support level 80,00

AUDJPY currency pair recently reversed down from the combined resistance zone located between the key resistance level 81.45 (former support from the start of July – which stopped the previous impulse wave (iiii), upper daily Bollinger Band and the and the 38,2% Fibonacci correction of the previous downward impulse from the start of July. The downward reversal from this resistance zone stopped the previous minor correction (ii).

Given the strength of the aforementioned resistance zone – AUDJPY currency pair can be expected to fall further toward the next round support level 80,00 (which stopped the previous impulse waves 1 and (i)).

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