VincePrince

JPYCAD, Inverse Head-Shoulder, Targets Ahead!

FX_IDC:JPYCAD   JAPANESE YEN / CANADIAN DOLLAR
Hello,

Welcome to this analysis about JPYCAD and the 4-hour timeframe perspectives. As I discovered in my analysis recently JPYCAD has formed an interesting dynamic and recently completed a pivotal formation with further volatilities to show up likely. Therefore, as when looking at my chart we can watch there how JPYCAD now recently completed this whole inverse head-and-shoulder-formation with the bounce above the neckline which is marked in blue. Above this neckline JPYCAD now forms something like a confirmational bull-flag which has a coherent wave-count within that will be completed when wave C is finalized. Once JPYCAD bounces above the upper boundary of this confirmation flag it will move on further to the upside and approach the main inverse head-and-shoulder-target-zone marked in my chart in blue. For now, this zone is likely to be reached as JPYCAD offers the appropriate structure for it as it is also staying above the 35-EMA in red as well as the 15-EMA in green. Once the upper target-zone has been reached JPYCAD needs to show if it manages to increase further bullishness above this level or firstly reverses which will not be unlikely, it will be an important development ahead.

In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
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Information provided is only educational and should not be used to take action in the markets.

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