Just trying to look at AUDJPY from big picture point of view and have been eyeing this for awhile. Based on my EW analysis (Note: I'm not a Pro...) it seems a 5 wave cycle as been completed and price is now in an A-B-C retracement which on be broke down into another 5 Wave pattern on smaller scale. Anyways, if this is true we should be closing in the end of the C leg, once completed we could see another long bearish cycle on this pair. Price could reverse at 80.00. It makes sense I think in a fundamental way as well, the economy is being propped up by various Fed actions and they will not last forever. I'm not an economist but I think the damage from the shutdown hasn't fully been realized yet and once it is a lot of capital may flow back into the yen. Let me know what you think!
