AJ taking a dive in the long run

15 ก.ค. 2018

Based on price action, technicals and confluence, it appears that AUDJPY is continuing its drop long-term. It looks like a Gartley harmonic pattern may be forming but only time will tell. A big move to the downside has been in effect since 2015 and since mid-year 2017, an uptrend has formed which is now being overturn by more bearish momentum as price fails to create new higher highs. If I am correct, we can anticipate the fall towards the target of 75.000 before price begins to transition to a more bullish sentiment as it complets the BC leg and starts to create the CD leg.

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