• AUDJPY reversed from support level 83.00
• Likely to rise to resistance level 84.50
AUDJPY recently reversed up from the pivotal support level 83.00 (which previously reversed the pair 3 times in the middle of April).
The support zone near the support level 83.00 was strengthened by the lower daily Bollinger Band.
Given the prevailing uptrend – AUDJPY is likely to rise further toward the next resistance level 84.50 (which stopped the previous impulse waves 1 and (i)).