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Australian Dollar / Japanese Yen(AUDJPY) Day Chart Elliott Wave Technical Analysis 27 September 23


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AUDJPY Elliott Wave Analysis Trading Lounge Day  Chart, 27 September 23
Australian Dollar / Japanese Yen(AUDJPY) Day Chart
AUDJPY Elliott Wave Technical Analysis
Function: Counter Trend
Mode: impulsive
Structure: blue wave 3 of C
Position:  black wave C
Direction Next lower Degrees: wave (3 of C) continue
Details: blue corrective wave 2 looking completed at 96.083.now blue wave 3 started and strong move expected . Wave Cancel invalid level:96.081
 
The AUD/JPY Elliott Wave Analysis on 27 September 23, examines the Day Chart of the Australian Dollar/Japanese Yen (AUD/JPY) currency pair. This analysis utilizes Elliott Wave theory to provide insights into potential market trends and price movements.
 
The analysis identifies its Function as "Counter Trend," indicating a focus on identifying and interpreting market movements that run contrary to the prevailing trend. In this context, "counter trend" suggests an emphasis on potential reversals or corrective movements within the market.
 
The Mode is characterized as "impulsive," which implies an anticipation of strong and directional price movement. Specifically, the analysis expects an impulsive wave sequence within the market, suggesting the potential for significant and decisive price shifts.
 
The Market Structure is described as "blue wave 3 of C." This highlights the importance of the third wave within a broader C-wave structure in the Elliott Wave sequence. It signifies that the analysis is centered on the development of this specific wave.
 
The Position specifies that the analysis pertains to "black wave C," indicating that the entire C-wave structure is of interest in the analysis. This means that the broader context of the C-wave is taken into consideration.
 
The Direction Next Lower Degrees points to "wave (3 of C) continue," signifying that the analysis is focused on the continuation of the third sub-wave within the larger C-wave structure.
 
In the Details section, it is observed that "blue corrective wave 2" is deemed to have completed its course at the level of 96.083. The market is now in the phase of "blue wave 3," and a strong price movement is expected as part of this impulsive phase. The "Wave Cancel invalid level" is
specified as 96.081, serving as a reference point for risk management and potential trade entry points.
 
In summary, the AUD/JPY Elliott Wave Analysis on 27 September 23, suggests that the market is currently undergoing a counter-trend phase with an anticipated impulsive price movement in the form of "blue wave 3 of C." Traders are advised to closely monitor this wave for potential trading opportunities, with the specified invalid level serving as a reference for risk management within their trading strategies.
audjpydaychart.thumb.png.90d5ffb39dbb4f9459c6895374270212.png
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