LeoPrime Daily Market Analysis

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AUDJPY broke resistance zone; Likely to rise to resistance level 84.200.

AUDJPY currency pair continues to rises strongly after it broke through the resistance zone lying between the major resistance level 82.000 (previous monthly high from September, as can be seen from the daily AUDJPY chart below) and the 50% Fibonacci correction of the downward correction from May. The breakout of this resistance zone accelerated the active impulse waves (iii) and 3. Given the powerful bearish yen sentiment seen across the FX markets today, AUDJPY currency pair can be expected to rise further toward the next resistance level 84.200 (top of the minor correction (iv) from the end of June).

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