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CADJPY: Short term Elliottwave Structure suggests more upside

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 2, 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). From this level, wave (X) bounce is unfolding in a double three structure where wave (W) ended at 84.12, wave (X) ended at 82.17, and wave (Y) is in progress towards 87.3 – 88.55 area to end the cycle from 1/20 low. Near term, while pullback stays above 84.84, but more importantly above 82.17, pair is expected to continue higher towards 87.3 – 88.55 area to complete wave (X) before it turns lower at least in 3

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