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AUDJPY reversed from resistance zone; Likely to fall to support level 84.000.

AUDJPY currency pair recently reversed down from the resistance zone located between the key resistance level 85.000 (which has been reversing the price from March) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous short-term impulse wave (iii). Given the strength of the aforementioned resistance zone and the strong yen inflows – AUDJPY currency pair can be expected to fall further toward the next support level 84.000 (which stopped the previous minor corrections (iv) and 2 in May).

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