Share:

AUDJPY shows a 5 swing bearish sequence from September 2022 peak favoring further downside. Cycle from 2.15.2023 high is currently in progress as a 5 waves impulse Elliott Wave structure. This cycle is mature and expected to end soon. Down from 2.15.2023 high, wave 1 ended at 91.91 and rally in wave 2 ended at 93. Pair then resumes lower again in wave 3 towards 87.33 as the 1 hour chart below shows. Rally in wave 4 ended at 89.509 with internal subdivision as a zigzag structure. Up from wave 3, wave ((a)) ended at 88.719 and wave ((b)) ended at 87.37. Final leg wave ((c)) ended at 89.509 which completed wave 4.

AUD/JPY 1 hour Elliott Wave chart

AUDJPY

Wave 5 lower is now in progress with subdivision as another 5 waves impulse in lesser degree. Down from wave 4, wave ((i)) ended at 87.115 and rally in wave ((ii)) ended at 89. Pair resumes lower in wave ((iii)) towards 86.04, and wave ((iv)) is proposed complete at 87.53. Near term, as far as pivot at 89.509 high stays intact, pair has scope to extend lower before ending wave ((v)) of 5. This should also complete cycle from 2.15.2023 high and then pair should see larger degree correction higher in 3, 7, 11 swing.

AUD/JPY Elliott Wave video

Share: Feed news

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

EUR/USD recaptures 1.0700 ahead of key US data

EUR/USD recaptures 1.0700 ahead of key US data

EUR/USD is trading above 1.0700, staging a decent recovery despite soft inflation data from the Euro area. The Euro buyers cheer hawkish ECB commentary while the risk-positive market environment limits the USD's upside ahead of key US data. 

EUR/USD News

GBP/USD rises above 1.2450 as risk flows dominate

GBP/USD rises above 1.2450 as risk flows dominate

GBP/USD is recovering above 1.2450 in the European session, as the US Dollar resumes its downside amid a risk-on market mood. Renewed dovish Fed expectations and US debt deal passage keep the US Dollar undermined ahead of the US ADP jobs and ISM Manufacturing PMI data. 

GBP/USD News

Gold price rebounds toward $1,970 amid renewed US Dollar selling

Gold price rebounds toward $1,970 amid renewed US Dollar selling

Gold price is rebounding toward $1,970, having found strong bids near $1,950. The risk-on market profile is weighing on the US Dollar, enabling Gold price to attempt a recovery. The further upside, however, appears elusive amid rallying US Treasury bond yields. US data awaited. 

Gold News

Bitcoin likely to remain in red through the next quarter if history is any indication

Bitcoin likely to remain in red through the next quarter if history is any indication

Bitcoin (BTC) price produced a monthly close at $27,210, noting a -6.92% return for May. The last-minute slide in BTC put an end to the four-month bullish streak that kickstarted the 2023 rally. 

Read more

C3.ai gets punched in the face, is the AI hype a bit overdone?

C3.ai gets punched in the face, is the AI hype a bit overdone?

OMG! Stocks sold off on Wednesday….and NVDA?  That stock gave back $15 or 3.8% - What is going on? That is not supposed to happen….it can only go up! Quick someone call the NVDA police! 

Read more

Majors

Cryptocurrencies

Signatures