In our analysis of AUD/JPY, we observe a potential bearish setup following a top at 102.406, with the pair bottoming around 100.15. Currently in a consolidation phase, we interpret this movement as a WXY correction, with the Y wave forming a contracting triangle. As long as the 101.153 level holds, we expect a strong downside move in wave 3, potentially below 99. However, 101.153 serves as our stop-loss, while 102.406 is our invalidation level, marking a threshold for the bearish scenario.
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2nd scenario playing out.
Vital Direction
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Read the full article on our website: vitaldirection.co.uk/analysis/
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Vital Direction
Read the full article on our website: vitaldirection.co.uk/analysis/
Join our FREE Telegram community (2k members): t.me/vitaldirectiongroup
Read the full article on our website: vitaldirection.co.uk/analysis/
Join our FREE Telegram community (2k members): t.me/vitaldirectiongroup
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.