CADJPY Elliott Wave: Incomplete Sequence Calling Lower

FX:CADJPY   Canadian Dollar / Japanese Yen
CADJPY short-term Elliott wave view suggests that a bounce to 87.00 on 11/08/2018 high ended blue wave (X). Down from there, the decline unfolded as double three structure where black wave ((w)) ended at 85.44 low as zigzag structure. A bounce to 86.35 ended black wave ((x)). Then a decline to 84.61 low ended black wave ((y)) & completed the red wave W lower. Also, with this push lower pair made a new low below 10/26/2018 low (84.83). Which made the sequence from 10/02/2018 peak incomplete to the downside favoring more downside against 11/08/2018 peak (87).

Up from 84.61 low, pair is correcting the cycle from 11/08/2018 peak in wave X which is expected to take the form of a double three structure and should ideally reach 86.18 -86.78 area Afterwards, the pair is expected to resume the downside provided the pivot at 11/08/2018 peak (87) stays intact or should produce a 3 wave reaction lower at least. We don’t like buying the pair and expect sellers to appear in the blue box as far as pivot at 87.00 high remains intact
14 days free trial --> https://elliottwave-forecast.com/amember/go.php?r=7975&i=l3 and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out