HELLO TRADERS I AM KELACHI FROM NIGERIA, I HOPE YOU BENEFIT FROM THIS ANALYSIS. NOTE THAT MARKET IS REACTIVE AND NOT PREDICTIVE.
AUDJPY WAS IN A STRONG BULLISH MOVEMENT. A BULLISH HEAD AND SHOULDERS PATTERN WHICH IS ONE OF THE MOST RELIABLE PATTERNS HAS EMERGED.
THE TEAM CAUGHT THE DROP FROM THE NECKLINE USING MY PREVIOUS IDEA ON THIS PAIR BEFORE IT WAS REMOVED.
PRICE HAS RETESTED THE NECKLINE AND HEADING TOWARDS THE TARGET.
THE TARGET IS GOTTEN BY MEASURING THE HEAD TO THE NECKLINE. ALSO THIS ADDITIONAL INFORMATION IS RELATED TO PREVIOUS AUDJPY AND EURJPY; A CLEAR DOWNTREND IS ACTIVE CREATING LOWER LOWS AND HIGHER LOWS IN OTHER WORDS A IMPULSE CORRECTION PATTERN.
HENCE A IMPULSE AND A LOWER LOW SHOULD BE MADE.
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