Wednesday, January 1, 2020

#AUDJPY Daily #ElliottWave Count

AUDJPY Daily Elliott Wave Count

I am sticking with the Leading Diagonal here although I may have tried to call it complete a bit early. 

The pair is currently testing the last swing high correction in the 76.00 area.  I would expect one more pop higher toward 77.00 for a 5th wave before the (b) wave correction lower starts.  

The alternate count here would be the WXY correction and even with that I would expect the pop higher before the pullback.  The pullback with the WXY would have to stay above the 73.35 wave iv low as that would be the X wave of the WXY.  The leg up from the 73.35 low I would label as A of the Y wave.  

AUDJPY Daily Elliott Wave Count
AUDJPY Daily Elliott Wave Count