Elliott Wave View: AUDJPY Taking Price Lower; 82.500 In View
Good evening traders!
Hope everybody had a good weekend; now let's start with quick peek of AUDJPY.
AUDJPY is displaying a nice bearish reaction away from 89.07 region where red wave (2) had ended. We are now tracking wave (3) that must by the end of its run unfold five minor waves. On that note we are currently observing minor wave 3 of (3) that can search for a base near the 83.500/83.900 region, before corrective wave 4 takes price temporarily higher.
The whole bearish impulse wave (3) however, can later reach levels near the 82.500/82.800 region.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Hope everybody had a good weekend; now let's start with quick peek of AUDJPY.
AUDJPY is displaying a nice bearish reaction away from 89.07 region where red wave (2) had ended. We are now tracking wave (3) that must by the end of its run unfold five minor waves. On that note we are currently observing minor wave 3 of (3) that can search for a base near the 83.500/83.900 region, before corrective wave 4 takes price temporarily higher.
The whole bearish impulse wave (3) however, can later reach levels near the 82.500/82.800 region.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.