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AUDJPY today reversed up sharply from the support area lying between support level 72.60 (which stopped the previous correction (a)), lower daily Bollinger Band and the 38.2% Fibonacci correction of the recent sharp upward impulse wave (1) from the start of May. Given the clear bearish yen sentiment seen across the currency markets today – AUDJPY is likely to rise further toward the next resistance level 75.00 (top of the previous short term correction (b)).
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