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AUD/JPY: Elliottwave structure suggests more upside as far as 85.4 low holds

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 11, 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, and wave X pullback is currently in progress towards 85.75 – 86.04 area. As far as 85.41 pivot stays intact during the pullback, the pair is expected to resume higher again to complete wave 5 towards 89 area. A break below 85.41 suggests the pair is doing a double correction from 10/12 peak and may open

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