AUDJPY Correction Near Complete

in #elliottwave • 7 years ago

 AUDJPY Short Term Elliott Wave view suggests that the rally to 90.31 ended Intermediate wave (W). Intermediate wave (X) pullback remains in progress as a double three Elliott Wave structure. Down from 90.31, Minor wave W ended at 88.44 and Minor wave X ended at 89.68. Minor wave Y is unfolding also as a double three Elliott Wave structure. Minute wave ((w)) of Y ended at 88.23 and Minute wave ((x)) of Y is proposed complete at 88.89. Near term, while bounces stay below 9/21 peak at 90.31, expect pair to extend lower towards 87.36 – 87.8 area to complete Intermediate wave (X). Afterwards, pair should resume the rally to a new high or at least bounce in 3 waves. We don’t like selling the proposed pullback.

AUDJPY 1 Hour Elliottwave Chart

 Source : https://elliottwave-forecast.com/forex/elliott-wave-analysis-audjpy-correction/ 

#forex #audjpy #usdjpy
7 years ago in #elliottwave by
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