AUDJPY and USDTRY Elliott Wave Analysis

Intermediate

AUDJPY can be trading in a sharp three-wave reversal, with current wave c/iii trading higher from the 71.06 area, where former corrective wave b/ii found support. Wave c/iii is an impulse and can now target 73.0 area with a five-legged move.

AUDJPY, 1h

audjpy

USDTRY is moving lower into a projected support near 5.65/5.55 region, after a completed triangle pattern within former wave B. A five wave fall within wave C, and a recovery in impulsive fashion would confirm a completed wave C of E), and more upside.

USDTRY, 4h

usdtry

Elliot Wave Technical Analyst

Gregor Horvat is based in Slovenia and has been in the Forex market since 2003. He has been working for Capital Forex Group and TheLFB.com.

He is the owner of www.ew-forecast.com, which prov...continued

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