Currency

In case you've missed everything last week

FX:AUDJPY   Australian Dollar/Japanese Yen
61 2 5
Two weeks ago I published a trade setup for the rally in this pair after its completion of the expanded flat. I even warned that it had the potential to move MUCH higher. Well for now after closely looking at the pair it definitely has the look of an impulsive MOTIVE wave. Next week we should see the last impulse up for the 5th wave before a major corrective move that is also likely to be impulsive and fast.
Comment: Hello, this pair's structure deviated from the original analysis and is now considered to be in corrective mode to the upside. It is most likely in an X wave connecting two impulsive movements. There is now an opportunity to buy this pair at a lower point than previously analyzed so I thought this should be shared.

snapshot
This correction could also be wave 2 of the last wave (which was the first of the big third wave), so we are in a 1, 2, 1, 2 and now a huge third wave to come.
Reply
I hope we get a big impulse wave up but we'll see. As of now the expectation is a corrective wave up. Hope we get lucky.
+1 Reply
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