AUDJPY currency pair be expected to rise to the next resistance level 114.00 (which stopped the previous minor impulse wave i from the start of this month).
- AUDJPY reversed from key support level 111.50
- Likely to rise to resistance level 114.00
AUDJPY currency pair recently reversed up from the support area between the pivotal support level 111.50 (former resistance level from the start of March), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from February. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Piercing Line – which marked the start of the active short-term impulse wave iii – which belongs to the impulse wave 5 of the higher order upward impulse sequence (5) from August of 2025.
Given the strong daily uptrend and the bullish Australian dollar sentiment seen today, AUDJPY currency pair be expected to rise to the next resistance level 114.00 (which stopped the previous minor impulse wave i from the start of this month).
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