AUDJPY currency pair recently reversed up from the support area lying between the pivotal support level 84.790 (former strong resistance from the middle of June, as can be seen from the daily AUDJPY chart below) and the 50% Fibonacci correction of the upward price impulse from the middle of October. Given the rising bearish yen sentiment seen across the FX markets today – AUDJPY currency pair can be expected to rise further toward the next major resistance level 86.200 (top of the previous impulse wave (iii)).
