Australian Dollar vs. Japanese Yen: ⬆️ Buy
- AUDJPY reversed from the support area
- It is likely to rise to the 111.00 resistance level
The AUDJPY currency pair recently reversed upward from the support zone between the 109.00 support level, the daily Bollinger Band low and the 38.2% Fibonacci retracement of the bullish push from December.
A bullish reversal from the 109.00 support level created the Morning Star daily candlestick reversal pattern, shown below.
Due to the strong daily uptrend, AUDJPY is expected to rise to the next resistance level of 111.00.
