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AUDJPY Wave Analysis 29 January, 2021

AUDJPY Wave Analysis 29 January, 2021

• AUDJPY reversed from support level 79.50

• Likely to rise to 81.00

AUDJPY recently reversed up from the key support level 79.50 (which stopped the previous minor correction A in the middle of December).

The support level 79.50 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the previous upward impulse 1 from last month.

AUDJPY is expected to rise further in the active impulse wave (3) toward the next resistance level 81.00 (top of the previous impulse wave (1)).

AUDJPY Wave Analysis 29 January, 2021


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