THE #AUDJPY is reaching resistance and the RSI 70 area where it has pull back in the past. I am still expecting higher but could see a pullback/consolidation before another run higher.
It looks like the D leg up may be finished and we could expect a pullback for wave E to start soon. I will be adding in the area for a target. An alternate count would be that E was completed just above last week and the move up since is wave 1 od V with the same target.
It looks like the move up from 112.61 could be impulsive and the start of a larger C wave up. Will be looking for longs in the 113.20 area for a target up of 116.00 - 116.50.
Another move toward 1.07 would complete a possible Ending Diagonal C wave that would complete the B wave up. Target down is 105.00
A pullback on #USDCHF to the .9850 area while RSI holds the 50 area would make me a short term buyer with a target of 1.000. A move to 1.00 with continued RSI divergence and I would be a longer term seller. Note the descending triangle in the RSI.
I believe this latest move down is a D leg of the larger triangle that has been forming for over a year. I move above the RSI down trend line could signal the bottom of this leg and the pair would start the E leg higher.
I had a target of 81.00 on a previous chart post and this ascending triangle has a target of 81.50. Would like to see price tag that 79.00 for an entry. Link to Ascending Triangle explanation.
The 1.0635 area was resistance, then became support. Is it resistance now? Lets see if the RSI trendline or the 60 area holds also.
Looking for 112.50 in wave C of Y of {B} before higher in {C}, I am looking at a possible triangle on the larger time frame. the dropin wave A sent the RSI to below 20 before spiking up to resistance at 62. I will be looking for divergence above 30 on this C wave down for a possible long.
Wave (D) of this triangle could be complete and we would see a small pullback before a final spike out of the triangle toward 106.00. The count I am showing calls for a few more days of consolidation befor the spike out of the triangle.
Wave (I) up certainly looks complete and I will be looking for a 3 wave move down to 1.05 area for wave (II). That could be a good place to be long for wave (III) up.
The AUDJPY seems to be forming a rising wedge over the month of Oct. 79.00 was resistance back in Sept. and again in the beginning of Oct until finally breaking through in mid oct. After breaking above the 79.00 level it was tested as support about one week later. I will be watching to see if it holds again during this possible 4th wave pullback. If 79 holds...
AUDNZD may have found the top of wave 1 with what looks like a 5 wave move down from the highs. I will be looking for a 3 wave bounce in the 1.0650 area before another leg down in wave 2 .
I will be looking to short USDJPY at 105.00 is price reaches this area early in the week and the RSI is still showing divergence. A break of 103.33 could confirm a top is in. First target down would be the 101.00 area and is the count is correct I will be looking for 92.00 longer term.
This count is a little different than the 4 hr count I posted yesterday. I believe the USDCAD has finished a leading Diagonal A wave and is now working on a B wave down to the 1.2800 to 1.2900 area. Support and a bounce there could lead to a move back up to 1.36 to 1.38 before the final C leg down.
The #AUDNZD looks to be nearing the end of wave 1 as it reaches resistance at the previous wave 4 high. I would expect to see a pull back soon to start the 2nd wave down. Targeting 1.04500.
#USDCAD could see some small move over the next few days as it completes a Leading Diagonal A Wave. Looks like it could complete around 1.3350 then a move down to 1.3050 could follow for B wave before the final C wave up.
Looking for the #EURUSD to turn up here soon for a run at 1.1500. This would be wave c of (B) of D of the triangle.