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AUDJPY Elliott Wave Analysis
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In the AUDJPY currency pair, we see the formation of a 5-wave pattern in the dominant wave (B). Before these 5-waves, we see a strong downward movement. which we call wave (A).
These 5 waves have modified the previous powerful movement, and the corrective movements are always more complicated and time-consuming than their previous wave.
Therefore, it is more likely that the price will return to its original movement.
Therefore, with the hypothesis of continued downward movement, we are waiting for the break of the trend line drawn at the 5-wave bottom (wave B) and with the break and pullback, we can enter into a sale transaction.
To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
In the AUDJPY currency pair, we see the formation of a 5-wave pattern in the dominant wave (B). Before these 5-waves, we see a strong downward movement. which we call wave (A).
These 5 waves have modified the previous powerful movement, and the corrective movements are always more complicated and time-consuming than their previous wave.
Therefore, it is more likely that the price will return to its original movement.
Therefore, with the hypothesis of continued downward movement, we are waiting for the break of the trend line drawn at the 5-wave bottom (wave B) and with the break and pullback, we can enter into a sale transaction.
To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
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