Rising wedge on AUDJPY, with following bullish hidden divergence.
the currency pair, have brokken out of a trend channel, and entered a rising wedge . The wave theory is in count here as the fibonacci matches the waves. Wave E in the rising wedge , is hitting 0.707 on the fibonacci. which is the square root of 0.5 from the fibonacci level. Set up from wave 0 to 5.
the price can go down to 85.920, befor rising to around 92.000 on the longer term.
meanwhile i will countertrade, and upload analysis on the currency pair. in smaller timeframes.