#AUDJPY
These days, AUDJPY is slightly UP due to MARKET RISK ON. In recent days, JPY became somewhat STRONG because of the BOJ INTERVENTION and the drop in US INFLATION. Even now, we see that the MARKET has somewhat MARKET RISK OFF. We expect AUDJPY to RETRACE to higher resistance.
Anyway, if AUDJPY goes DOWNSIDE again, VIX should go up, JPY should go up,...
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...
- AUDJPY Must understand the MARKET SENTIMENT before doing TRADE. The current SENTIMENT has a very NEUTRAL SENTIMENT. Then you have to look for an understanding of VIX INDEX and JAPANESE FEATURE CHART. Then you need to see what happens in EQUITY MARKETS. Especially the Snp500 CHART. Then you need to understand DIVERGANCE and MARKET STRUCTURES. Having an...
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...
