Elliott Wave Analysis: AUD/JPY Unfolding 3-Wave Reversal

Hi traders,

AUD/JPY is trading bearish and it can be recovering after a five-wave decline into wave A, so we should see a three-wave a-b-c corrective rise here in wave B, where wave c is still missing. So, we assume that one more leg up still can be seen towards projected resistance around 80.60 level, maybe even 81.0. However, keep an eye on that resistance, while it’s trading below 82.46 invalidation level.

4-Hour AUD/JPY

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