Monday 1 September 2014

AUDJPY close to top




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AUDJPY - ANALYSIS


The AUDJPY (now at 97.36) is set to reach a temporary top around 98.73 or even the area 99.33-100.17 and then stage a correction to the area around 93-92




TARGETS:

Topping soon at
likely: 98.73
possibly: 99.33-100.17

Then down to:

likely:  93.01
possibly: 92.53
maybe: area 92.12




ELLIOTT WAVES

The monthly chart reveals that we witnessed a huge two-step pattern (1-2-3  retracement) from Oct 24, 2013 to Apr 11, 2013 followed by a & b, where b is not entirely finished (weekly chart and daily chart) and c will come to existence after the top.


The 4-hour chart displays only 4 waves up where the 5th is not complete yet. Similarly the 1
-hour chart.






Monthly chart - click to enlarge







Weekly chart - click to enlarge







Daily chart - click to enlarge









Wave oscillator on a Daily chart - click to enlarge







4-hour chart - click to enlarge






1-hour chart - click to enlarge