AUDJPY Chart Technical Outlook 5 bearish waves complete at 93.06
It is difficult to get a long-term outlook on the cross with the daily and weekly charts throwing out mixed signals.
On a shorter timeframe, the one-hour chart looks to have completed a bearish 5-wave count at 93.06. That would suggest that the move higher is corrective. It is likely that the first swing high (A leg) in a corrective ABC formation was completed at 95.55. That would suggest that we have one more upside rally before sellers return.
Prime resistance is the previous swing low at 95.98 and the one-hour supply zone.
