AUDJPY Short Term Elliott Wave Update 11.13.2015

Best reading of the Elliott Wave cycle suggests decline to 85.41 ended wave (4). From this level, pair has resumed rally in wave (5) as  a double three structure where wave W ended at 87.58, wave X pullback ended at 86.37, and wave Y is currently in progress. Internal of wave Y is unfolding as a double three structure where wave ((w)) ended at 87.95, wave ((x)) ended at 87.12, and wave ((y)) of Y is in progress towards 88.6 – 89.1 area. As far as wave ((x)) low at 87.12 is holding, but more importantly as far as 86.37 pivot stays intact, the pair is expected to resume higher to 88.6 – 89.1

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