Elliott Wave Analysis: AUDJPY May Have Found The TopMay 2, 2022

Hello traders! Today we will talk about AUDJPY pair in which we see a completed Elliott wave five-wave bullish cycle and potential top formation after recent break below strong trendline.

In Elliott wave theory, we always have to expect a minimum three-wave reversal after a completed five-wave cycle. Due to a potential top formation, we are now observing a minimum three-wave A/1-B/2-C/3 decline, where wave C or 3 can be already in play.

elliott wave cycle

The main reason why AUDJPY could be turning down is strong support zone on US bonds and also still bearish looking stocks in current risk-off sentiment. A positively correlated SP500 is just about to break Feburary 2022 lows. Which can easily send AUDJPY pair lower, at least towards 88 area for wave C, if not even down to 85 area for wave 3.

Trade well!

Elliott Wave Analysis: AUDJPY May Have Found The Top by ew-forecast on

Interested in more FX Elliott wave analysis. Check what we have to say about GBPJPY


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.