LeoPrime Daily Market Analysis

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AUDJPY reversed from support area; Likely to rise to 75.000

AUDJPY recently reversed up from the support area located between the strong long-term support level 73.000 (which reversed the price twice in June), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward price impulse from April. Given the clear daily uptrend and the strongly bullish Australian dollar sentiment seen across the currency markets today, AUDJPY is likely to rise further toward the next resistance 75.000 (which reversed the price at the end of last month).

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