OANDA:AUDJPY   Australian Dollar / Japanese Yen
Hello Traders

The higher degree structure (2nd wave can be seen on the image down below) can be an expanding flat. If it's so, the last bottom should be the end of it since there is no more room for more downside without breaking the previous bottom. That's why I'm looking at the sharp upward wave a reversal impulse and now, waiting for a correction and reversal pattern to place a pending order. Of course, it can make a correction under the blue trendline and keep coming down, but in this case, we will have enough time to move SL to BE.



For more details and the daily updates please watch my daily analysis videos on Youtube.
Trade with care.
Bulent
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