TradingLounge Australian Dollar / Japanese Yen Elliott Wave Analysis Day Chart

Australian Dollar / Japanese Yen (AUDJPY) Day Chart Analysis

AUDJPY Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Impulsive

Structure: Orange Wave 5

Position: Navy Blue Wave 5 of C

Direction Next Lower Degrees: Orange Wave 1 of New Bearish Trend

Details:

The analysis indicates that orange wave 4 of 5 is complete, and orange wave 5 of 5 is currently nearing its end.

The Elliott Wave analysis for the Australian Dollar / Japanese Yen (AUDJPY) daily chart suggests a counter-trend function, indicating a phase of correction or temporary reversal, moving opposite to the primary trend.

Currently, the market is in an impulsive mode, with strong wave movements in the direction of the counter-trend, consisting of five waves. This reflects a robust push against the main trend.

The structure identified is orange wave 5, the final wave in a five-wave sequence, typically marking the last push in the counter-trend before a reversal or significant correction occurs.

Positioned as navy blue wave 5 of C, the market is in the fifth wave of a larger corrective wave C, which concludes an ABC corrective pattern following a five-three-five structure.

The next lower degree direction is identified as orange wave 1 of a new bearish trend, indicating that after the current orange wave 5 completes, the market will start a new downward trend with orange wave 1.

Orange wave 4 of 5 is complete, suggesting the fourth wave has finished, and the market is in orange wave 5 of 5, which is expected to end soon, marking the conclusion of the counter-trend movement.

Summary:

The AUDJPY daily chart analysis shows the market in a counter-trend function with an impulsive mode. The current structure is orange wave 5, positioned as navy blue wave 5 of C. Following the completion of orange wave 5 of 5, the market is anticipated to move into orange wave 1 of a new bearish trend. Orange wave 4 of 5 is complete, and orange wave 5 of 5 is nearing its end.

AUDJPY-Day-Forex-Cha...


TadingLounge Forex AUDJPY Elliott Wave Analysis 4H Chart

Australian Dollar / Japanese Yen (AUDJPY) 4-Hour Chart Analysis

AUDJPY Elliott Wave Technical Analysis

Function: Trend

Mode: Corrective

Structure: Gray Wave 4

Position: Orange Wave 5

Direction Next Higher Degrees: Gray Wave 5

Details:

The analysis identifies that gray wave 3 of 5 is complete, and gray wave 4 of 5 is currently in play. The wave cancel invalid level is set at 104.806.

The Elliott Wave analysis for the Australian Dollar / Japanese Yen (AUDJPY) on the 4-hour chart suggests a trending market, with price movements following a clear directional pattern.

Currently, the market mode is corrective, indicating a phase of consolidation or correction after a previous impulsive move. Corrective waves typically move against the main trend and are often more complex.

The structure identified is gray wave 4, representing the fourth corrective wave of a larger five-wave sequence, moving against the established trend and indicating a period of consolidation or retracement.

Positioned as orange wave 5, the market is preparing to enter or is already in the final wave of the larger sequence. Orange wave 5 follows the completion of gray wave 4, marking a final push in the main trend's direction before a larger correction or reversal.

The next higher degree direction is identified as gray wave 5, indicating that after gray wave 4 completes, the market will move into gray wave 5, likely an impulsive move in the primary trend's direction.

Gray wave 3 of 5 is complete, suggesting the third wave has finished, and the market is now in gray wave 4 of 5, a corrective phase indicating potential consolidation or retracement before the final wave (gray wave 5) begins.

The wave cancel invalid level is crucial for validating the current wave structure. If the market moves below 104.806, the current wave count would be invalidated, necessitating a reevaluation of the wave analysis.

Technical Analyst: Malik Awais

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: GBPUSD Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 170 Markets Covered. Chat Room With Support

AUDJPY-4hr-Forex-Cha...

Related

A Technical Breakdown: Bitcoin Crypto Price News Today Bitcoin/U.S. Dollar (BTCUSD) Elliott Wave Technical Analysis

A Technical Breakdown: Bitcoin Crypto Price News Today Bitcoin/U.S. Dollar (BTCUSD) Elliott Wave Technical Analysis

This article provides a detailed Elliott Wave Analysis of the Bitcoin/U.S. Dollar (BTCUSD) trading p...

Read More >
Insurance Australia Group Limited Trading Strategy & Market Trends: IAG Stock Analysis & Elliott Wave Technical Forecast

Insurance Australia Group Limited Trading Strategy & Market Trends: IAG Stock Analysis & Elliott Wave Technical Forecast

This article provides an in-depth Elliott Wave analysis for ASX: IAG (Insurance Australia Group Limi...

Read More >
Hang Seng Elliott Wave Forecast: Wave 3 Active, Daily & Weekly Strategies With 19215 Invalidation Alpha

Hang Seng Elliott Wave Forecast: Wave 3 Active, Daily & Weekly Strategies With 19215 Invalidation Alpha

The Hang Seng Index shows a bullish impulsive structure with Wave 3 active on daily and weekly chart...

Read More >
Ripple (XRP) Crypto Price News Today and XRPUSD Elliott Wave Technical Analysis: XRP Price Forecast and Trading Strategy

Ripple (XRP) Crypto Price News Today and XRPUSD Elliott Wave Technical Analysis: XRP Price Forecast and Trading Strategy

XRPUSD is completing a Wave 2 A-B-C correction. Watch for bullish signals around $1.90–$1.88 to ent...

Read More >
Understanding the Current Retracement Phase and the Upcoming Bullish Trend - Swiss Market Index Elliott Wave Technical Analysis

Understanding the Current Retracement Phase and the Upcoming Bullish Trend - Swiss Market Index Elliott Wave Technical Analysis

This article provides an in-depth Elliott Wave analysis of the Swiss Market Index, focusing on both ...

Read More >
ASX: Santos Limited (STO) Stock Analysis & Elliott Wave Technical Forecast with Key Trends and Actionable Trading Strategies

ASX: Santos Limited (STO) Stock Analysis & Elliott Wave Technical Forecast with Key Trends and Actionable Trading Strategies

Get detailed Elliott Wave analysis for ASX: SANTOS LIMITED (STO), including stock trends, price pred...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on