• AUDJPY reversed from support area
• Likely to rise to resistance level 85.00
AUDJPY currency pair recently reversed up from the support area lying between the key support level 82.2 (which has been reversing the price from the end of January), lower daily Bollinger Band and the 50% Fibonacci correction of the upward price impulse from February. The upward reversal from this support area stopped the previous minor impulse waves (iii) and iii of the wave C from the start of May
Given the prevailing daily uptrend, improving Australian dollar sentiment – AUDJPY currency pair can be expected to rise further toward the next resistance level 85.00 (which reversed the price multiple times from the middle of March).