AUDJPY: Bearish Wave Poised for Targets around 98.77

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Hello Traders,

Trust trading has been awesome.

Find below my analysis of AUDJPY currency pair.

Current Price: 99.738
The pair shows bearish sentiment across the H4, H1, and M30 timeframes, with a downward trend firmly established (as price keeps making lower highs and lower lows). Momentum indicators suggest strong bearish pressure; however, the price is currently consolidating within a narrow range, limiting immediate directional movement.

Bias: Bearish, as long as the price remains below the key resistance level at 99.997, and we see a breakout of the consolidation range (Squeeze).

Targets
First Target: 98.770
Second Target: 98.108
Ultimate Target: 97.816

This bearish outlook is further supported by Elliott Wave analysis, with the potential for a downward move fulfilling the Wave 5 projection of the current impulsive wave, provided the price stays below 100.048.
交易進行
+50pips done so far. More pips still to go
交易結束:目標達成
+80pips and counting
註釋
+156pips done. First Target hit. Price now close to second target.
audjpyshortChart PatternsmomentumindicatorTrend Analysistrendpatternvolatilitycontractionwave4correctionWave Analysis

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