AUDJPY Incomplete Bullish Sequences Calling The Rally

  


Hello fellow traders. In this blog, we’re going to take a quick look at the Elliott Wave charts of AUDJPY , published in members area of the website.  As our members know AUDJPY is giving us correction against the 05/10 peak that is unfolding as Elliott Wave Zig Zag Pattern. The pair has been showing incomplete bullish sequences in the short term cycle from the 08/20 low. Consequently we’ve been calling the rally in the pair within the short term August cycle.

AUDJPY 1h Hour Elliott Wave Analysis 8.28.2021

As we can see on the chart below, we got 5 waves up in the rally from the 8/20 low. It’s marked as wave A red. Then we got clear 3 waves pull back- B red, after which the price rallied and made new short term high. Now we have a incomplete bullish sequences in the August cycle, which makes the pair bullish against the 79.40 low. This price structure looks like a incomplete Zig Zag pattern, calling for more strength. Current view suggests we can be ending soon 5 waves from the 79.4 low as ((i)) black. We expect 3 waves down in ((ii)) black before further rally continues.

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You can learn more about Elliott Wave Zig Zag Pattern at our Free Elliott Wave Educational Web Page.

AUDJPY

AUDJPY 1h Hour Elliott Wave Analysis 8.31.2021

Short term cycle from the 79.4 ended as 5 waves and we got 3 waves pull back ((ii)) black as expected. More aggressive view suggests ((ii)) is completed at 79.96 low. We can be trading higher in ((iii)) of C of proposed Zig Zag pattern. Now, we would like to see break of ((i)) black peak to confirm ((iii)) is in progress. Wave C red is targeting 81.56-82.9 area. We don’t recommend selling at this stage and favor more strength within August cycle.

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AUDJPY

AUDJPY 1h Hour Elliott Wave Analysis 8.31.2021

The price held above 79.96 low and we got further rally as expected. Current view suggests we can get another marginal push up to complete ((iii)) of C. The price is very close to our target area 81.56-82.9 area where correction can complete.

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room

AUDJPY

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