AUDJPY and CADJPY Still Bearish! - Elliott WAVE

Gregor Horvat Wavetraders

Hello fellow traders,

AUDJPY is dropping from the Fibb. Ratio of 38.2, which represents ideal zone for a resistance for a corrective fourth wave. Also, price fully unfolded an a-b-c pullback within the fourth wave, which is now being followed by an impulsive fall, and points to the fact that final leg v of C may be underway. Projection target for leg v is near 69.52/68.51 region.

AUDJPY, 4h

CADJPY is trading similar like AUDJPY, in a new impulsive fall which can be wave 5 as part of a bigger trend. Projection target for wave 5 is around 78.0/77.56 zone.

CADJPY, 4h

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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