$AUDJPY 1 Hour Elliott Wave Analysis

Rally from 91.74 – 94.26 was in 5 waves but subsequent drop toward 92.70 – 93.00 ( 50 – 61.8 fib) of the rally was quite strong which made us switch the view to FLAT wave ( B ) in yesterday’s update. While below 93.27, expect more downside in the pair and break to new lows below 91.74. C = A target comes at 91.33.

 

AUDJPY 6020131212084058

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