$CADJPY Short-term Elliott Wave Analysis 6.15.2016

Short Term Elliottwave structure suggests that rally to 84.43 ended wave ((x)). Decline from there is unfolding as a double three where wave (w) ended at 82.6 and wave (x) ended at 83.47. Wave (y) is in progress as a double three where wave “w” is proposed complete at 82.13 and wave “x” bounce is expected to fail below 83.47, and more importantly below 84.57, for more downside towards 81.2 – 81.6 area.

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