FX:AUDJPY Australian Dollar/Japanese Yen
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.