🏆 AUD/JPY Bullish Correction is Around the Corner ✈️

3 min read
Adarwish

adarwish

Forex broker

Hi traders,

AUD/JPY is in a bearish momentum since quarter one 2018. Price is developing 5 bearish waves and it seems to me that the pair is about to start a big corrective wave as part of wave A. Today we will check the currency pair from a wave perspective to figure the best available opportunity.

This article will discuss the expected scenarios for the pair during the coming days using wave pattern, support and resistance and SWAT software.

AUD/JPY Prepares for Bullish Reversal

AUD/JPY pair is in a clear downtrend as shown in the below chart… However, price is close to completing 5 waves, which means that a correction could be imminent.

When will the bullish reversal and correction? This is what we are looking for in this article, as I expect sooner or later that the bullish momentum will start because of the below reasons:

  1. The pair confirmed 4 waves and now price in wave 5 and I think it’s about to end.
  2. Wave 5 break the bottom of wave 3 so it’s about to finish or is already finished.
  3. Now we are waiting for Wave A.
  4. As wave traders know that wave A is represented by 5 waves so we are waiting for reversal signals now.

I am looking now for the buy opportunities only as I expect a big correction will take place for wave A which will be presented by 5 Waves up.

AUD/JPY SWAT Chart

Let us take a look at SWAT charts to see what is going on… from the below SWAT chart price indicates a bearish move, but here are the main conclusions to consider:

  1. The price is moving lower but price action is behaving more correctively.
  2. We need price to break above the 21 EMA with a strong candle in order to trade the pair.
  3. A break above Wize level 3 will give more confirmation.
  4. Our target will be the Wize level 4 and Wize level 5.

Traders must wait for the above confirmations to develop to set there position.

Good trading,

Ahmed

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ecs.START🎯🎯🎯: Tools, Indicators & Handouts

Our most popular trading tools and wisdom are FREE now. Join and receive a
mix of practical education and actionable trading tools right now.

✅  Fibonacci Sequence Scripts – Wizz*

✅  HA and Fibs Indicators & Handouts

✅  Money Management Tips & more…

*Currently 86% of profit setups at entry after the price hits above the 3d or 4th Wizz level 🚀🚀🚀