Two possible scenarios for AUDJPY
On the chart here I see two possible bullish scenarios for AJ. I think price could move up from the 100% fib level or if bearish pressure persists it could drop down to the .618 level. From an Elliot Wave point of view, we should be in Wave 4/ B Leg and soon be entering into Wave 5/ Leg C. This whole bull run may just be an ABC retracement on the larger time frame. Check out the chart and let me know what you think, feel free to offer some constructive criticism as I'm still an amateur Elliot Wave chartist. Have a good weekend traders!
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