Elliott Wave Analysis: AUDJPY Broke Out Of Triangle - UPDATE

Hello traders and investors!

Today we want to update our AUDJPY chart from February 10, which is moving nicely higher as expected after we noticed a bullish running triangle formation in wave (B).

As you can see, AUDJPY is now in the strong rise, but it's also approaching projected 88-92 target area for wave (C). However, wave (C) is a motive wave and it should be completed by a five-wave cycle of the lower degree, so be aware of more short-term gains before it finds the top. Keep in mind that triangles suggest final continuation leg before reversals.

Trade well!
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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.