CADJPY Short-Term Elliott Wave Analysis

By: Elliottwave-Forecast | Tue, Mar 31, 2015
Print Email

Today, we are going to take a look at shorter cycles in CADJPY pair. Pair today hit 100% extension (93.74) down from 3/5/2015 (96.81) peak & bounced. Preferred Elliott wave view suggests decline from here took the form of a double three structure when wave ((w)) ended at 94.51, wave ((x)) ended at 96.03 and wave ((y)) at 93.72 completing a higher degree wave W.

A bounce in wave 'X' is now expected to correct the decline from 96.81 peak before the decline resumes. 50 - 61.8 Fibonacci retracement zone lies between 95.26 - 95.62. We don't like buying the pair in the proposed bounce. If pivot at 96.81 high gives up during the bounce, that would open another extension higher as a WXY structure from 1/30 low.

CAD/JPY Short-Term Elliott Wave Analysis Chart
Larger Image

 

If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

 


 

Elliottwave-Forecast

Author: Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 41 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Copyright © 2015-2017 Elliottwave-Forecast.com

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com