$CAD/JPY Short Term Elliott Wave Update 8.11.2015

Short term Elliott Wave view suggests decline to 94.47 ended wave ((w)). Wave ((x)) bounce unfolded in the form of a FLAT structure where wave ((a)) ended at 96.17, wave ((b)) ended at 94.08, and wave ((c)) of ((x)) is proposed complete in 5 waves at 96.02.

As far as price stays below 96.02, and more importantly below 96.86 which is 1.618 extension of wave ((a)) and ((b)), the pair is expected to resume lower or at least pullback in 3 waves to correct the rally from 94.08. We don’t like buying any proposed bounce.

CADJPY 6020150811094117

At EWF we offer  24 hour coverage of 42 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything EWF has to offer!

Back

Subscribe to our Forex Blog

First Name: *
Last Name: *
Your Email Address: *