After the fall in price from the recent high at 90.29 on 21st Sept to the recent low at 87.24 on 21st Oct, price has been developing in a corrective nature.
Price has completed a minimum 3-wave structure from the 21st Oct low.
This gives us the bias in looking for a short setup on AUDJPY.
A break below the trend line structure will give us the conviction that we can potentially see price falling 240 pips, targeting 86.02.
With the AUD CPI and Trimmed Mean CPI scheduled to be released tomorrow, these risk events might be the catalyst to move the AUDJPY pair.
Price has completed a minimum 3-wave structure from the 21st Oct low.
This gives us the bias in looking for a short setup on AUDJPY.
A break below the trend line structure will give us the conviction that we can potentially see price falling 240 pips, targeting 86.02.
With the AUD CPI and Trimmed Mean CPI scheduled to be released tomorrow, these risk events might be the catalyst to move the AUDJPY pair.