AUDJPY 4 HR Elliott Wave Count
On the AUDJPY 4 Hr chart I am showing a possible Leading Diagonal from the 69.96 lows. An alternate here is a WXY combo with i-ii-iii completing the W, the X wave would be the wave 4 and wave 5 would be a of Y. In this case price would need to hold above the wave 4 low of 73.359 as it traces out the b wave of y.
Another thought is that wave iv is only the a wave of x rather then the entire x wave. If that is the case than wave v would be the b wave with the c wave down in progress. In this case the pullback may reach the 72.00 area.
With the Leading Diagonal or the X wave still in the works 72.00 would be my target down.
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| AUDJPY 4 HR Elliott Wave Count |