AUDJPY BUY

Since early September this market seems to make a series of higher lows and higher highs, a bullish trending market sitting at each of the quarters levels. We are now at the (4) section of the remaining (4)-(5) leg of the Elliot Impulse Wave. Observe how the (2)-(3) leg did not push above the 200 Day EMA. As we gain bullish price accumulation in the short term, I expect the 200 Day EMA to increase enough so that the (4)-(5) leg is a profitable move but again I do not expect to push above the 200 Day EMA at that point.

Entry at the 74.00 whole level SL at 73.77 and a TP up at 75.50.