Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Elliott Wave Analysis: CAD/JPY Within Wave 5

Published 02/28/2018, 11:10 PM
Updated 03/09/2019, 08:30 AM

Short Term CAD/JPY Elliott Wave view suggests that the decline from 1/5/2018 high (91.58) is unfolding as an impulse Elliott Wave Structure where Minor wave 1 ended at 88.48, Minor wave 2 ended at 89.63, Minor wave 3 ended at 83.824, and Minor wave 4 ended at 84.82. Minor wave 5 is currently in progress and the subdivision also unfolds as an impulse Elliott Wave structure.

Down from 84.82, Minutte wave (i) ended at 84.08, Minutte wave (ii) ended at 84.484, and Minutte wave (iii) ended at 82.94. Expect a bounce in Minutte wave (iv) which can end at 23.6 - 38.2% retracement of Minutte wave (iii) at 83.3 - 83.5 area before another leg lower in Minutte wave (v) of ((i)). Afterwards, pair should end cycle from 2/26 high (84.82) and bounce in Minute wave ((ii)) in 3, 7, or 11 swing before the decline resumes.

CAD/JPY 1 Hour Elliott Wave Chart

cadjpy 1 March


ew cycle

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.