Technical analysis confirms a 400-pip sell-off in AUDJPY as the pair concludes a corrective rally, validating Elliott Wave projections for a short-term bearish trend.
The AUDJPY pair completed a three-wave corrective rally, peaking at 112.61 following a climb from the 108.90 support level. Technical analysis based on Elliott Wave principles identified this peak as the conclusion of a Wave 2 structure, signaling a shift in momentum that resulted in a 400-pip decline.
The rally peaked at 112.61 before the subsequent decline.
The pair experienced a 400-pip sell-off following the identified corrective peak.
The AUDJPY currency pair experienced a sharp 400-pip decline after completing a three-wave rally to the 112.61 level. Technical analysts identified the move as a corrective end, signaling a bearish reversal that aligns with established Elliott Wave cycle structures.
The decline was triggered by the completion of a three-wave corrective rally that peaked at 112.61, as identified by Elliott Wave technical analysis.