• 341 days Will The ECB Continue To Hike Rates?
  • 341 days Forbes: Aramco Remains Largest Company In The Middle East
  • 343 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 743 days Could Crypto Overtake Traditional Investment?
  • 748 days Americans Still Quitting Jobs At Record Pace
  • 750 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 753 days Is The Dollar Too Strong?
  • 753 days Big Tech Disappoints Investors on Earnings Calls
  • 754 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 756 days China Is Quietly Trying To Distance Itself From Russia
  • 756 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 760 days Crypto Investors Won Big In 2021
  • 760 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 761 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 763 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 764 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 767 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 768 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 768 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 770 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Elliottwave-Forecast

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…

Contact Author

  1. Home
  2. Markets
  3. Other

CADJPY Short-Term Elliott Wave Analysis

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.

 

Back to homepage

Leave a comment

Leave a comment