AUDJPY is forming a contracting triangle of corrective wave E.
Wave D was near to accomplish, and the price had bearish sentiments, where it was a beginning phase of wave E.
I had written in clear words, “Wave (E) can complete between 0.618 to .786 Fibonacci levels. That’s why a trader can expect the following targets for wave (E) 83.44-82.50-81.03 as targets of wave E. If you want to trade wave (E), then you should have a trailing stop due to the high volatility of wave (E)”.
5 January 2022, the price made reached the first target of 83.44
10 January 2022, the price reached the second target of 82.50. Price had made a recent low of 82.32.
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