AUDJPY: ⬆️ Buy

• AUDJPY reversed from support zone
• Likely to rise to resistance level 111.00

AUDJPY currency pair recently reversed up from the support zone between support level 109.00, lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from December.

The upward reversal from the support level 109.00 created the daily Japanese candlesticks reversal pattern Morning Star, highlighted below.

Given the strong daily uptrend, AUDJPY currency pair can be expected to rise to the next resistance level 111.00.