AUDJPY currency pair can be expected to fall further to the next support level 113.00 (low of the earlier minor ABC correction (iv)).
- AUDJPY reversed from resistance zone
- Likely to fall to support level 113.00
AUDJPY currency pair recently reversed from the resistance zone between the key resistance level 114.70 (which has been reversing the price from April), upper daily Bollinger Band and the resistance trendline of the daily up channel from the end of June. The downward reversal from this resistance zone started the active short-term correction (iv) – which belongs to the impulse wave 3 of the intermediate impulse wave (5) from the start of July.
Given the strength of the resistance level 114.70 and the overbought daily Stochastic, AUDJPY currency pair can be expected to fall further to the next support level 113.00 (low of the earlier minor ABC correction (iv)).
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