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Elliott Forecast

Eric Morera

Elliott Wave View: AUDJPY Starts a New Bullish Cycle

March 22, 2022 By

AUDJPY manages to break above the previous daily high on October 21, 2021 at 86.26. This suggests that pair may have started a new bullish cycle. Short Term Elliott Wave View in the pair suggests the rally from January 29, 2022 low is unfolding as a . Up from January 29 low, wave 1 ended at 85.89 and pullback in wave 2 ended at 84.54. Pair then extended higher in wave 3 towards 88.5 with internal subdivision a 5 waves in lesser degree. Up from wave 2, wave ((i)) ended at 85.36 and wave ((ii)) ended at 84.9. Pair continued higher in wave ((iii)) towards 88.059, and wave ((iv)) ended at 87.57. Final leg wave ((v)) ended at 88.5 which also completed wave 3. Pullback in wave 4 ended at 87.81.

Wave 5 is currently in progress higher. Near term, as far as wave 2 pivot at 84.57 stays intact, pair should see further upside in 5 waves before ending wave 5. This should then end cycle from January 29, 2022 low and pair should see larger pullback to correct that cycle in the sequence of 3, 7, or 11 swing before the next leg higher again.

AUDJPY 60 Minutes Elliott Wave Chart

AUDJPY Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-audjpy-starts-new-bullish-cycle/

#elliottwave #trading #audjpy

22/03/2022 1 EN

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Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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