Jump to content

Australian Dollar / Japanese Yen (AUDJPY) Forex Elliott Wave Technical Analysis

Recommended Posts

Posted (edited)
Australian Dollar / Japanese Yen (AUDJPY) Day Chart    
AUDJPY Elliott Wave Technical Analysis  
FUNCTION: Counter Trend
MODE: impulsive                                              
STRUCTURE: blue wave 5 
POSITION:  black wave C  
DIRECTION NEXT LOWER DEGREES: new impulse 1                                    
DETAILS blue wave 4 looking completed at 99.950. Now blue wave 5 of C is in play.
Wave Cancel invalid level:99.95
The AUD/JPY Elliott Wave analysis on the daily chart provides an in-depth look at the market's current dynamics. This analysis identifies the function of the movement as a counter-trend, indicating that the market is moving against the primary trend.  
The mode is described as impulsive, which implies that the counter-trend movement is strong and directional, typically structured in a five-wave pattern. The specific wave structure under examination is blue wave five, indicating that the market is in the final phase of this particular impulsive counter-trend movement.
Within this structure, the position is identified as black wave C. This suggests that the market is in the third wave of the counter-trend sequence, specifically the last push of the counter-trend correction before a potential return to the primary trend.
The direction for the next lower degrees is set for a new impulsive wave one. This means that following the completion of the current impulsive counter-trend wave, the market is expected to start a new primary trend movement, beginning with wave one.
The detailed observations note that blue wave four appears to be completed at the level of 99.950. Consequently, the market is now in blue wave five of C, suggesting a continuation of the counter-trend movement within this final wave phase.
An essential aspect of the analysis is the wave cancel invalid level set at 99.950. This level acts as a critical threshold; if the market moves beyond this level, the current wave count would be invalidated. This would necessitate a reassessment of the wave structure and could indicate a potential change in the market's direction.
In summary, the AUD/JPY Elliott Wave analysis on the daily chart indicates that the market is in a strong counter-trend movement, specifically in blue wave five. The current position is within black wave C, suggesting an ongoing counter-trend push before a likely return to the primary trend with a new impulsive wave one. The analysis also highlights an invalidation level to watch, which is crucial for monitoring potential shifts in the market's behavior.
AUDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart,      
Australian Dollar / Japanese Yen (AUDJPY) 4 Hour Chart    
AUDJPY Elliott Wave Technical Analysis  
FUNCTION: Trend                                              
MODE: impulsive                                              
STRUCTURE: red wave 3
POSITION:  blue wave 5
DIRECTION NEXT LOWER DEGREES: red wave 4                                    
DETAILS red wave 2 looking completed . Now red wave 3 of 5 is in play .Wave Cancel invalid level:102.066
The AUD/JPY Elliott Wave analysis on the 4-hour chart presents a detailed view of the market's current trend. The analysis categorizes the function of the market movement as trending, indicating a sustained directional momentum.
The trend mode is described as impulsive, which means the market is in a strong movement phase, typically characterized by a five-wave structure. The current wave structure under examination is identified as red wave three. This suggests that the market is in the third wave of an impulsive sequence, often the most powerful and extended wave in the cycle.
Within this structure, the specific position is pinpointed as blue wave five. This indicates that the market is in the latter stages of the current impulsive phase, with blue wave five representing the final push in this sequence before a potential correction.
The analysis highlights that the direction for the next lower degrees is red wave four. This implies that following the completion of the current impulsive wave, the market is expected to enter a corrective phase, typically retracing some portion of the impulsive movement.
The detailed observations indicate that red wave two appears to be completed. Consequently, the market is now engaged in red wave three of five, suggesting an ongoing strong impulsive move within this wave cycle.
A crucial component of the analysis is the wave cancel invalid level set at 102.066 . This level is essential as it acts as a threshold; if the market breaches this level, the current wave count would be invalidated, requiring a reevaluation of the wave structure and potentially signaling a change in the market's behavior.
In summary, the AUD/JPY Elliott Wave analysis on the 4-hour chart reveals that the market is in a strong impulsive trend, specifically in red wave three. The current position is within blue wave five, indicating a continued impulsive movement before a likely corrective phase in red wave four. The analysis also emphasizes an invalidation level to monitor, which guides traders on potential trend shifts and corrections.
Technical Analyst Malik Awais
Source : Tradinglounge.com get trial here!
Edited by tradinglounge
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • As more users embrace Dapp, it gets easier to trade crypto, engage in DeFi lending/borrowing and trade NFTs. With the growing need to trade NFT comes the introduction of Love Power Movement, a transparent and accessible marketplace with the best conditions for successful NFT sales. Although the NFT sector has recorded significant growth, it's still impeded by challenges like low protection of artists' and buyers' data, absence of organised policy protecting sellers and buyers amongst others. Love Power aims to tackle those by offering fixed commissions and royalties to creators, ensuring proper profit for sales. LPM token forming a crucial part of the ecosystem has been launched with no presale and VC investment, with intent to direct proceeds from token sales to NFT artists. As $LPM prepares to list on Bitget, the vast community of Love Power Movement would surely be watching keenly.
    • I missed out on NOTCOIN airdrop though i took advantage to buy it at $0.05 when it dipped and in a short while it rose back to $0.2. Made some decent gains there and I'm still holding. I will explore the giveaway to boost my NOTCOIN portfolio on the cex. Right now, my focus on the pre-market trading for hamster on Bitget, I want to make the best use of the Hamster airdrop I'm anticipating.
    • Dear @br864626, Please note that you can transfer shares from your employer's Share Incentive Plan (SIP) or Save As You Earn Scheme (SAYE) to an IG ISA, you will have to ask the provider to initiate the transfer. Thanks, KoketsoIG
  • Create New...