AUDJPY Has Room To Decline To 85-80 This Year

By: Gregor Horvat | Tue, Mar 31, 2015
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AUDJPY is in strong downtrend for the last couple of days so it may be worth to keep an eye on it as new strong leg down can be in the cards, considering recent reversal down from that black trendline as shown on the weekly chart where we see room for decline to 80/85 this year.

AUDJPY Weekly Elliott Wave Analysis

AUDJPY Weekly Elliott Wave Analysis Chart

On the intraday chart of AUDJPY we see bearish impulsive price action trading towards 90 psychological level that can be reached at the start of April. But before that happens, we may see retracement up into wave 4 that can be oppotunity for shorts on a corrective bounce.

AUDJPY 1h Elliott Wave Analysis

AUDJPY 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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