E Elliott Wave Currency Pair Analysis: GBPJPY And AUDJPY - Look Further Higher

GBPJPY is coming nicely and impulsively higher in the 4-hour chart after we noticed a completed wave 4 correction.

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It's now already at 156 area, close to May highs as expected and there can be room for more upside towards 157 area or higher within a projected five-wave bullish cycle for wave 5, just be aware of another intraday slow down with support around 155 level.

GBPJPY 4h Elliott Wave Analysis

GBPJPY Elliott wave

AUDJPY is nicely and impulsively recovering on a daily chart after we noticed a completed wave B) correction and now that is close to the previous highs, we will probably see a five-wave bullish cycle that can take out that May high. So, more upside is in view, just watch out for a slow down within wave 4 before a continuation higher for the 5th wave.

AUDJPY 4h Elliott Wave Analysis

AUDJPY Elliott Wave

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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