AUD/JPY Long Term Elliott Wave Count

Something that i have been following a while is that this pair is shaping up to be a triangle, after the savage puking from the April 30th highs (seen across the board in the "risk trade") we are trending sideways, which is just a precursor to what should be more downside

Its a reason to suggest that the overall move in "risk" is actually just stalling before the continuation lower

So what does that mean in plan English???

It means that from the April 30th highs, to suggest big upside moves in other markets, you are only seeing it in a few selective markets and not all markets are confirming the recent upside moves seen in the AUD/USD pair and ES

But Equities move off the back of the USD/CAD pair, (remember that Bullish alt triangle idea a few days back)

Well that idea aligns with this idea, and we got another month of chop ahead of us, as the real boys wont come back till Sept but overall in the whole risk trade patterns, they still suggest that those April 30th highs will likely hold, and more downside is likely over the coming months

THAT DONT MEAN WAVE 3 & A CRASH HAS ARRIVED EITHER

Of course that could change, (we trade probabilities based off the patterns thatห the edge we have) but patterns at the moment in some markets are looking like triangles, and i like the setup in this pair as a Bearish triangle (so this puke suggests "risk off" and sell Equities) and the setup in the USD/CAD pair for the Bullish triangle, that too if gets upside should see "risk off" as we know that if that pair rallies then Equities puke

So Key resistance keeps this idea of a triangle valid as long as price does not move above 80.85