AUD/JPY Turns Lower After Five-Wave Advance, Breaks Channel Support
AUD/JPY has reversed lower after a five-wave advance, breaking channel support this week and opening the door to a deeper ABC correction.
AUDJPY
AUD/JPY has reversed lower after completing a five-wave advance. The pair confirmed a temporary top around 113.60 before selling off.
This week the market broke below channel support, suggesting the prior upward structure may be exhausted.
Current technical positioning points to a deeper ABC correction phase, according to the update.
Source: FXStreet Forex News