Australian Dollar / Japanese Yen (AUDJPY) – Day ChartAUDJPY Elliott Wave Technical Analysis
Analysis OverviewThe AUDJPY Elliott Wave Analysis on the daily chart offers a detailed technical outlook on the Australian Dollar/Japanese Yen currency pair. The analysis identifies the current phase as part of a bearish trend, classified under an impulsive mode, which suggests strong downward momentum.The wave structure is defined by orange wave 3, which is a component of a larger Elliott Wave cycle. Positioned within navy blue wave 3, it signifies that the market remains within a higher-degree downtrend. The analysis indicates that orange wave 2 has likely completed, and the market has entered orange wave 3, signaling a continuation of the bearish trend with the potential for further downside movement.Future Market OutlookThe next higher-degree direction is expected to be orange wave 4, which typically represents a corrective phase following the completion of the current impulsive wave. Traders should closely monitor the progress of orange wave 3, as its completion will likely signal the start of orange wave 4.Additionally, the analysis specifies a wave invalidation level at 98.762. If the price moves above this level, the current wave count would be invalidated, necessitating a revision of the market outlook.ConclusionIn summary, AUDJPY is currently in an impulsive bearish phase, categorized as orange wave 3, within the broader navy blue wave 3 structure. The completion of orange wave 2 has set the stage for the continuation of the downward movement.Traders should monitor orange wave 3 closely and pay attention to the 98.762 invalidation level to validate the current wave structure. This analysis serves as a framework for understanding the market’s position and anticipating future price movements within the ongoing bearish trend.
Australian Dollar / Japanese Yen (AUDJPY) – 4-Hour ChartAUDJPY Elliott Wave Technical Analysis
Analysis OverviewThis analysis applies Elliott Wave Theory to the AUDJPY currency pair on the four-hour chart, identifying a bearish trend with an impulsive mode. The primary wave structure under review is orange wave 3, which has begun following the completion of orange wave 2. This transition signals a continuation of the downward momentum.Currently, the market is positioned within navy blue wave 3, with orange wave 3 actively unfolding. As orange wave 2 has completed, the impulsive phase has taken hold, suggesting sustained bearish pressure. The ongoing movement within orange wave 3 is expected to dominate the market trend, potentially driving further declines as the bearish momentum intensifies.Future Market OutlookThe wave cancellation invalidation level is set at 98.762. If the price rises above this threshold, it would invalidate the current wave structure, requiring a reassessment of the market outlook and wave count.ConclusionIn summary, the 4-hour chart analysis for AUDJPY highlights the progression of a bearish trend, driven by the development of orange wave 3 within navy blue wave 3. The completion of orange wave 2 has initiated this impulsive phase, with the bearish trend expected to persist.The wave cancel invalidation level at 98.762 provides a crucial reference for validating the wave count. This analysis serves as a valuable tool for traders, helping them navigate the ongoing bearish market conditions and anticipate potential future price movements, while closely monitoring key levels.
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