#AUDJPY
These days, AUDJPY is slightly UP due to MARKET RISK ON. The reason for that was that the MARKET SENTIMENT was somewhat POSITIVE with FED UPDATES. JPY WEAK AFTER BOJ MEETING.
Because of that, XXXJPY CURRENCIES went UP very fast. It still has an effect. Anyway, they said that the BOJ MONETARY POLICY will be relaxed even more.
Therefore, after JPY...
#AUDJPY
Earlier days, AUDJPY was going down a bit due to MARKET RISK OFF. But now we see that the MARKET is somewhat MARKET RISK ON. We expect AUDJPY to bounce back UP.
Anyway, its price is moving down in the AUDJPY DOWNSIDE TRIANGLE. By BREAKING that TRIANGLE PATTERN, its price can go UP again. After that, if MARKET RISK continues to be ON, you can...
AUD/JPY looks like just finished the contracting triangle and it's ready to go upside. It will break the recent high and it can touch 99+. We will see more upside strength in the upcoming days on this pair.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational...
Currently, AUDJPY is forming a contracting triangle on the corrective wave ((4)). Price has completed sub-wave (C), and sub-wave (D) is in progress.
After completion of the (D) wave, the terminating wave sub-wave (E) will break the B-D trendline of the contracting triangle.
Wave (D) can end nearby 78.6% retracement of wave (B).
If the price breaks the B-D...
