Elliott Wave Analysis: AUD/JPY In A Temporary Correction

 | Nov 12, 2018 09:57AM ET

Hi,
AUD/JPY can be trading in a wave 4) correction, down from 83.04 level where former wave 3) found a top. Current drop can now be part of a pullback, which can later look for support and a bullish reversal around the Fibonacci ratio of 38.2/50.0. A rally in impulsive fashion would confirm more gains.
AUD/JPY, 4h