AUD/JPY correcting, but medium term UP
Update August 1st
The price respects the analysis I made yesterday.
This small impulse wave on the 15 min timeframe is still unfolding. We are now in the 4th corrective wave of a bigger sequence on the upside.
I marked 3 potential levels where the price can retrace. It is not mandatory for the price to hit them all. In fact, the price may go up after it touches the first red line.
Short term: correcting on the downside.
Medium term: uptrend forming 4 waves on the upside
The price respects the analysis I made yesterday.
This small impulse wave on the 15 min timeframe is still unfolding. We are now in the 4th corrective wave of a bigger sequence on the upside.
I marked 3 potential levels where the price can retrace. It is not mandatory for the price to hit them all. In fact, the price may go up after it touches the first red line.
Short term: correcting on the downside.
Medium term: uptrend forming 4 waves on the upside
I hope this was helpful.
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
Trade wisely!
ymagnify.com/
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
Trade wisely!
ymagnify.com/
