AUDJPY; Bull Party Over?

FX:AUDJPY   Australian Dollar / Japanese Yen
44 0
In my latest analysis on this pair I recognized a bullish Head and Shoulder pattern which worked nicely and yielded about 250 pips from the point of breakout so far.

Now, I think it's time to liquidate longs and even go short as this pair is fast approaching a strong harmonic resistance. Bearish AB=CD and Alt Bat patterns point to lower prices. Also a clear 5-wave             structure is visible on the 1-hour chart. The move from C to D might well be a C wave of a zigzag ABC correction. If this is the case, expect a massive bearish run to unfold. But if the channel is broken and the 100% APP projection is violated, that would mean that the pair is a great bullish run. Thus this is a make-or-break time for AUDJPY             .

Good luck,

Ali             Sharif Azadeh, CFTe
Comment: The pair reversed course exactly as anticipated.
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