AUDJPY shows bullish momentum after bouncing off the 109.00 support level, with technical indicators pointing toward a move to 111.00.
AUDJPY reversed up from key support level 109.00 and is likely to rise to resistance level 111.00.
The AUDJPY currency pair has staged a technical reversal after testing the critical 109.00 support level. Analysts anticipate a short-term bullish trajectory toward the 111.00 resistance mark as the pair recovers from recent lows.
The 109.00 level acts as a key support zone that has historically stopped downward waves in May and August, and currently coincides with the lower daily Bollinger Band.