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AUDJPY currency pair recently reversed up from the support zone lying between the support level 82.300 (former multi-month low from the end of March) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous short-term impulse waves iii and (iii). Given the clear uptrend and the change in yen sentiment from the worse – AUDJPY currency pair can be expected to rise further toward the next resistance level 83.250 (former strong support from April).
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