AUD/JPY reached buy target 87.70
Next sell target – 84.60
AUD/JPY has been falling in the last few trading sessions inside the minor corrective wave (ii) – which started earlier this month – when the pair reversed down from the resistance zone lying at the intersection of the upper resistance trendline of the daily up channel from June, upper daily Bollinger Band and the resistance level 87.70 (which was set as the buy target in our previous forecast for this currency pair).
AUD/JPY can be expected to fall further to the next sell target at the key support level 84.60, standing close to the 50% Fibonacci correction level of the previous sharp upward impulse (i) from the middle of November.
Next sell target – 84.60
AUD/JPY has been falling in the last few trading sessions inside the minor corrective wave (ii) – which started earlier this month – when the pair reversed down from the resistance zone lying at the intersection of the upper resistance trendline of the daily up channel from June, upper daily Bollinger Band and the resistance level 87.70 (which was set as the buy target in our previous forecast for this currency pair).
AUD/JPY can be expected to fall further to the next sell target at the key support level 84.60, standing close to the 50% Fibonacci correction level of the previous sharp upward impulse (i) from the middle of November.