From TradingView · · 40s
AUDJPY Pullback Near Support
AUDJPY may rebound as Elliott Wave suggests key support holds.
In brief
AUDJPY may rebound as Elliott Wave suggests key support holds. AUDJPY could rise if it holds 109-108 support after a corrective pullback. Originally reported by TradingView.
AUDJPY in bullish impulse
AUDJPY is in a strong five-wave bullish impulse that looks unfinished.
Price trapped in sideways range
The pair has turned lower but remains trapped within a broad sideways range.
Corrective pullback approaches support
This could point to another rebound toward year end as the pair pulls back into 109-108 support.
Key support at former wave 4 swing low
If support holds, a bullish reversal could set the stage for higher prices before year end.
The bottom line
AUDJPY could rise if it holds 109-108 support after a corrective pullback.
