AUDJPY, 5th Wave Completion (SHORT)

We may see a push down lower on this pair based on higher time frame analysis. On the lower timeframes we can analyze the complex pullback that price has created in the form of a 5 wave pattern completion inside an ascending channel (4hr). We may see price begin to stall as we approach prior highs, or we may see a push higher before sellers step in to take the market lower. In which case we would need to pay attention to MACD divergence on the highs in the 1 hr chart and a break out of the 5M trend line.