AUD/JPY: sell targets 80.00 and 79.00
By: Dmitriy Chernovolov
- AUD/JPY reversed from resistance zone
- Next sell targets 80.00 and 79.00
AUD/JPY recently reversed down from the resistance zone lying between the resistance level 82.00 (which has been reversing the price from February, as can be seen below) and the 50% Fibonacci correction of the previous sharp downward impulse from the end of January. The downward reversal from the aforementioned resistance zone continues the active impulse wave 3 – which belongs to the intermediate downward impulse wave (3) from last May.
AUD/JPY is set to fall further to the next sell target at the support level 80.00 – the breakout of which can lead to further losses toward 79.00.