Dmitri Lysenko
⬤ AUD/JPY just wrapped up its correction phase near 105.15 and is back on the upward track. The pair did exactly what Elliott Wave analysts expected—it pulled back in three waves to around 105.197 or below, hit the brakes at 105.154, and then buyers jumped back in. The bounce happened right on schedule, confirming the technical setup was spot on.
⬤ The charts show the decline played out almost textbook-style from the weekend forecast. Price dropped into that key demand zone just under 105.20, ticked the downside target, and respected the bigger bullish picture. Once AUD/JPY printed that 105.154 low, it quickly reversed higher, showing sellers had run out of steam. That quick reaction tells us buyers successfully protected the important support level and kept the uptrend alive.
⬤ Looking at the Elliott Wave setup on the 1-hour chart, the pair's now moving into its next impulsive phase. The upside targets sit between 107.079 and 107.661—an area that matches up with previous swing highs and wave projections on the chart. As long as price stays above that recent correction low, the structure keeps pointing higher, and the market's sitting on the right side of the move rather than flashing any reversal signals.
⬤ This move matters beyond just AUD/JPY itself. The pair often reflects broader market risk appetite and carry trade flows, so a sustained push toward 107 would validate the bullish structure after corrections and show how Elliott Wave analysis can pinpoint high-probability turning points. Bottom line: as long as that 105.15 support holds, the technical picture keeps favoring more upside in this rally.
Dmitri Lysenko
