AUDJPY Has Room To Decline To 85-80 This Year
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
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
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Author: Gregor Horvat
Gregor Horvat
www.ew-forecast.com
Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.
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