With the RSI bouncing off the bottom trendline I believe C of the bullish triangle is complete. If D is underway then I would be targeting the 1.5500 area while 1.41275 holds. After D is complete then we should see an E wave down to complete the triangle followed by a C wave up. C wave target is 1.8500. An RSI break above the falling wedge and 50 RSI would...
With the consolidation over the last few days turning into a possible 4th or B wave traingle the USDJPY coud now spike up to the 106.00 area to finish pf the triangle.
I believe we will see a new high toward 80.5 in the #AUDJPY before lower. There is a rising wedge forming that could b C of an ABC up as labeled or the entire move could be a C wave of a larger ABC. Eirther wat I am looking lower after the move up to 80.500 - 81.00. Plenty of support on the RSI 40 and 70 is acting as resistance as price moves lower after...
The weekly Bullish count is looking for a 3 wave move down to complete an "e" wave of the "b" wave triangle. After the triangle completion the pair should have a pretty strong move up to the 1.15 area. The 1.15 target area has three measurements that complete in that area. (Y) = (W), c = a and the width of the triangle. A break of .94439 would invalid this...
Looking for a move higher from here with a target of the 120.00 area. An alt count would be a wave 4 triangle with a target of 118.00. I will be watching the RSI for clues as it reaches the 65.00 area.
The move down on the #EURJPY looks complete and I am looking for a move back above 116.00 over the coming weeks. A break above the 60 RSI would be a nice sign of strength.
I believe this latest move down is a D leg of the larger triangle that has been forming for over a year. I move above the RSI down trend line could signal the bottom of this leg and the pair would start the E leg higher.
I had a target of 81.00 on a previous chart post and this ascending triangle has a target of 81.50. Would like to see price tag that 79.00 for an entry. Link to Ascending Triangle explanation.
The 1.0635 area was resistance, then became support. Is it resistance now? Lets see if the RSI trendline or the 60 area holds also.
Looking for 112.50 in wave C of Y of {B} before higher in {C}, I am looking at a possible triangle on the larger time frame. the dropin wave A sent the RSI to below 20 before spiking up to resistance at 62. I will be looking for divergence above 30 on this C wave down for a possible long.
Wave (D) of this triangle could be complete and we would see a small pullback before a final spike out of the triangle toward 106.00. The count I am showing calls for a few more days of consolidation befor the spike out of the triangle.
Wave (I) up certainly looks complete and I will be looking for a 3 wave move down to 1.05 area for wave (II). That could be a good place to be long for wave (III) up.