AUDJPY today broke sharply above the key resistance level 77.500 (which stopped the previous minor impulse wave 1 at the start of November as can be seen from the daily AUDJPY chart below). The breakout of the resistance level 77.500 continues the active minor impulse wave 3 – which belongs to the medium-term impulse wave (3) from the middle of November. Given the clear daily uptrend and the powerful AUD sentiment seen across the FX markets today – AUDJPY is expected to rise further toward the next resistance level 78.400 (which stopped the sharp multi-month uptrend in August)