AUDJPY recently reversed up from the support area lying at the intersection of the support level 72.50 (former strong resonance from August, acting as support after it was broken earlier this month), 50% Fibonacci correction of the earlier upward correction 2 from the end of August and the down trendline from April. The upward reversal from this support area stopped the earlier impulse wave (iii). With the moderate bullish sentiment affecting the Australian Dollar – AUDJPY is likely to rise further in the direction of the next resistance level 74.35 (former support from September).