Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
AUD/JPY reached buy target 85.50
2019-11-11 • Updated
- AUD/JPY reached buy target 85.50
- Next buy target - 88.00
AUD/JPY today broke above the resistance level 85.50 (which was set as the buy target in our pervious forecast for this currency pair). The breakout of the resistance level 85.50 coincided with the breakout of the 61.8% Fibonacci correction of the pervious sharp intermediate ABC correction (B) from February - which should add to the bullish pressure on this currency pair in the coming trading sessions. AUD/JPY is expected to rise to the next buy target at the next resistance level 88.00 (top of the previous (A)-wave from February).
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