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AUD/JPY: Elliottwave structure calling for another high to 88.6

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 12, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    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) is expected to complete at 87.9 – 88, then it should pullback in wave (x) ideally towards 87.2 area before higher again to 88.6 – 89.1 area. We don’t like selling

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