Hi traders,
This is my analysis on AUD/JPY.
2 situation will occur on chart.
The candle has reach to the resistance trend line and bounce back last Friday.
According to EW, the last impulse wave 5 are looking for it end momentum divergence.
Fib indicate has reach to 61.8% (Ways no.2).
-If the candle keep climbing. it will reach a new point of wave 5 which is the two resistance line above (Refer the Chart)
and bounce to complete the EW.
-If the Candle start to bearish the wave 5 has complete and will descent to the support trend line.
Hope will help!
This is my analysis on AUD/JPY.
2 situation will occur on chart.
The candle has reach to the resistance trend line and bounce back last Friday.
According to EW, the last impulse wave 5 are looking for it end momentum divergence.
Fib indicate has reach to 61.8% (Ways no.2).
-If the candle keep climbing. it will reach a new point of wave 5 which is the two resistance line above (Refer the Chart)
and bounce to complete the EW.
-If the Candle start to bearish the wave 5 has complete and will descent to the support trend line.
Hope will help!
and approaching to resistance line 81.901