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CADJPY: Elliottwave Structure suggests lower after consolidation

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 4, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Short term Elliottwave structure suggests decline to 78.93 at 1/20 ended wave (W) and wave (X) bounce is unfolding as a double three (W)-(X)-(Y) structure where wave (W) ended at 84.1, wave (X) ended at 82.17, and wave (Y) of (X) ended at 87.03. From this level, pair turned lower in a double three where wave (w) ended at 84.67 and wave (x) bounce is currently unfolding as a triangle. As far as bounces stay below 87.03, pair is expected to resume lower for at least another leg to correct the

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