On this cross of AUDJPY, we see a possible corrective pullback that can be in late stages. This corrective pullback in the A-B-C form is after a five wave drop from February highs, so there is a good chance for the continuation of this pair to the downside. We will wait for the confirmation of the reversal and if we see 5 waves down and a corrective pullback we might consider this structure good for a short trade.
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