• 288 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 290 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 690 days Could Crypto Overtake Traditional Investment?
  • 694 days Americans Still Quitting Jobs At Record Pace
  • 696 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 699 days Is The Dollar Too Strong?
  • 700 days Big Tech Disappoints Investors on Earnings Calls
  • 701 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 703 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 707 days Crypto Investors Won Big In 2021
  • 707 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 708 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 710 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 710 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 714 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 714 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 714 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 717 days Are NFTs About To Take Over Gaming?
Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: AUDJPY and AUDUSD Intraday

With weak stock market money flows into safe haven currency, the Japanese yen. Yen is up across the board and with more coming on stock markets we think that Yen will remain in uptrend, meaning more downside for USDJPY and other XXX/JPY pairs. AUD has been hit hard in this week, so we decided to check the AUDJPY cross-pair. We see a sharp five wave decline from above 95.00 level that is probably an extended wave 3 so we expect more weakness to come, but after a corrective wave 4 bounce that may occur in the second part of this week.

AUDJPY 1h Elliott Wave Analysis

AUDJPY 1-Hour Elliott Wave Analysis Chart

AUDUSD has lost correlation with other USD pairs as currency is mostly driven by commodity market and stocks. It's showing some positive signs with the S&P so I would not be surprised to see more weakness on AUDUSD. In fact, recent sharp fall on AUDUSD looks like a wave three so definitely we anticipate more weakness after a fourth wave rally.

AUDUSD 1h Elliott Wave Analysis

AUDUSD 1-Hour Elliott Wave Analysis Chart

 


Get 1 Month of full service just for 1€ >> http://www.ew-forecast.com/service

 

Back to homepage

Leave a comment

Leave a comment