CADJPY Technical Analysis April 13/2017

CADJPY has been moving lower since December 2016. Price is entering an area where the pair can possibly bounce and reverse higher. There are a couple bullish patterns that seem to be forming and traders need to wait and see if CADJPY will find a bottom and terminate the bearish cycle that it is currently in.

Daily Chart Bullish Patterns : On the CADJPY Daily chart two visible bullish patterns can be seen (Blue, Red). The blue bullish pattern triggers a BUY at the point D BC 0.50% Fib. retracement level. Price has still yet to touch this level and will need another move lower to trigger. The red falling wedge bullish pattern has still yet to break above the top of the wedge/diagonal. A break above the red pattern wedge can signal that CADJPY has possibly bottomed and is ready to start a new cycle higher.


If looking to buy CADJPY traders should be patient and wait for price to make a move lower to the possible bounce zone (light blue box) and towards the BC 0.50% Fib. retracement level at 81.84. Waiting for price to hit the BC 0.50% Fib. retracement will offer a better risk/reward trade setup. Another scenario is traders can wait for price to break above the red wedge pattern. At this current moment above 84.18 confirms the breakout higher. Blue bullish pattern is invalidated if price moves below point B of the pattern.

CADJPY Elliott Wave Analysis 11.14.2017

CADJPY Elliott Wave view suggests that the decline to 87.78 ended Minor wave X. Pair starts a new rally from there as a double three Elliott Wave structure where Minute wave ((w)) ended at 89.8. Minute wave ((x)) pullback is currently in progress to correct cycle from 10/31 low in 3, 7, or 11 swing before the rally resumes, provided that pivot at 10/31 low (87.78) stays intact. Subdivision of Minute wave ((x)) is unfolding also as a double three Elliott Wave structure where Minutte wave (w) ended at 88.96 and Minutte wave (x) ended at 89.64. Near term, while bounces stay below 89.8, expect pair to extend lower in Minutte wave (y) of ((x)) towards 88.56 – 88.76 area before pair resumes the rally higher or at least bounce in 3 waves. We don’t like selling the pair.

CADJPY 1 Hour Elliott Wave Analysis

CADJPY Short Term Elliott Wave Analysis

CADJPY Short Term Elliott Wave view suggests that Minor wave X ended at 87.78. Up from there, pair rallies as a double three Elliott Wave structure where Minute wave ((w)) ended at 89.8 and Minute wave ((x)) is in progress. Subdivision of Minute wave ((x)) takes the form of a double three Elliott Wave structure. Decline to 88.96 ended Minutte wave (w) of ((x)) and Minutte wave (x) of ((x)) ended at 89.64. Near term, pair has reached the 100% area from 11/6 peak so the minimum target for Minute wave ((x)) has been reached. However, another leg lower still can happen towards 88.22 – 88.56 area before Minute wave ((x)) ends and pair resumes the rally higher or bounce in 3 waves at least. As far as pivot at 87.78 stays intact, expect pair to turn higher. We don’t like selling the pair.

CADJPY Elliott Wave Analysis: Correction Expected Before Lower Again

Short Term CADJPY 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 87.785, Minor wave 2 ended at 89.439, Minor wave 3 ended at 84.468, and Minor wave 4 ended at 85.24. Minor wave 5 remains in progress as an impulse Elliott Wave structure where Minute wave ((a)) of 5 is expected to end soon.

Minute wave ((a)) of 5 is unfolding as an impulse Elliott Wave structure where Minutte wave (i) ended at 83.82, Minutte wave (ii) ended at 84.82, Minutte wave (iii) ended at 82.94, and Minutte wave (iv) ended at 83.65. Pair has reached the minimum target in price and swing to end Minutte wave (v) of ((a)) although another extension lower can’t be ruled out. Expect pair to bounce in Minute wave ((b)) soon to correct cycle from 2/21 peak (85.24) in 3, 7, or 11 swing before the decline resumes. We don’t like buying the proposed bounce.

CADJPY 1 Hour Elliott Wave Chart

CAD JPY short-term Elliott wave view suggests that a bounce to 87.00 on 11/08/2018 high ended intermediate wave (X). Down from there, the decline unfolded as double three structure where Minute wave ((w)) ended at 85.44 low as zigzag structure. A bounce to 86.35 ended Minute wave ((x)). Then a decline to 84.61 low ended Minute wave ((y)) & completed the Minor 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.

CAD JPY 1 Hour Elliott Wave Chart

CADJPY Technical Analysis December 10/2018

CADJPY looks poised to make another move lower. There are bearish market patterns that are clearly visible. On the Weekly chart below, CADJPY formed a Bearish Pattern (blue) that triggered sellers on September 10/2017 high where price reached the BC 0.50% Fib. retracement level. From this level CADJPY reversed lower signalling that the September 10/2017 high is a significant level of resistance. CADJPY made a move lower that bottomed out on March 18/2018, the pair bounced higher and is taking form of a correction higher but has reversed lower from the September 30/2018 highs where it was met with bearish patterns that formed on the Daily chart (purple and blue). The September 10/2018 high is a now considered to be the new significant level of resistance. If price can make a good break below the Bearish Channel/Flag (black) bottom trend line we can expect a continuation move lower. Also on the Daily chart below, the pair can be seen respecting the 50MA (light blue) which also signals that sellers/bears are still control. As for now we will continue to expect more CADJPY downside so traders should watch for possible selling opportunities looking to hit the targets that are set on the Daily chart below.

CADJPY Weekly Chart 12.10.2018

CADJPY Daily Chart 12.10.2018

Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade.

Hello fellow traders. In this technical blog we’re going to take a quick look at the past Elliott Wave charts of CADJPY published in members area of The Website. As our members know CADJPY has the incomplete bearish sequences in the cycle from the October 3th peak. Break of 10/26 low has made the pair bearish against the 86.99 peak, suggesting further decline . We knew the price should find sellers in bounces in 3,7,11 swings. So ,we advised members to avoid buying the pair and keep on selling the rallies in the sequences of 3,7,or 11 swings whenever get chance. In further text we’re going to talk more about the Elliott Wave Forecast.

CADJPY 4 Hour Elliott Wave Analysis 12.1.2018

As of right now, the pair is correcting cycle from the 86.99 peak. Currently the pair is correcting the cycle from the 86.99 peak, doing Elliott Wave Double Three Pattern. We’re looking for another swing up , wave ((y)) to complete X red connector. We don’t advise buying the pair in proposed swing up, and favor the short side. As far as 86.99 pivot holds, we expect sellers to appear for further decline ideally or 3 wave pull back alternatively.

CADJPY 4 Hour Elliott Wave Analysis 12.5.2018

The pair has held 86.99 pivot in place, and we got nice decline after X red connector completed. During the decline the price broke 11/20 low, making the cycle from the 87.00 peak incomplete as well. Now the pair is targeting 83.85-83.30 area next, where sellers will be taking profits. We expect to see 3 wave bounce from the mentioned area, that should offer new selling opportunities in the pair. Although bounce is expected, we advise members to avoid buying the pair and to wait for clear bounce, before selling short term rallies in 3,7,11 swings against the 86.25 pivot in first degree.

CADJPY 1 Hour Elliott Wave Analysis 12.7.2018

Eventually we got the proposed bounce from the blue box area :83.85-83.30 as expected. Short term connector made clear 3 waves and reached its equal legs area at 84.9-85.38 ( sell zone). We are already getting reaction from there. As soon as the decline reaches 50 Fibs against the ((b)) low, we should make our short positions risk free.

Note : Keep in mind market is dynamic and presented view could have changed in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

Short Term Elliott Wave view suggests that cycle from 11.8.2018 high (87) ended at 83.55 in Minor wave W and bounce to 85.27 ended Minor wave X. Pair has resumed lower in Minor wave Y, but it needs to break below Minor wave W at 83.55 for confirmation and to avoid double correction in Minor wave X. Internal of Minor wave W unfolded as a double three Elliott Wave structure where Minute wave ((w)) ended at 84.59, Minute wave ((x)) ended at 86.25, and Minute wave ((y)) of W ended at 83.55. Up from there, Minor wave X bounce ended at 85.27. The Internal of Minor wave X also unfolded as a double three Elliott Wave structure. Minute wave ((w)) of X ended at 85.08, Minute wave ((x)) of X ended at 84.34, and Minute wave ((y)) of X ended at 85.27.

Decline from 85.27 is unfolding as a 5 waves Elliott Wave impulse structure. Minutte wave (i) ended at 84.68, Minutte wave (ii) ended at 84.96, Minutte wave (iii) ended at 83.95, and Minutte wave (iv) ended at 84.11. Expect pair to end Minute wave (v) soon, and it should also end Minute wave ((a)) of larger degree zigzag. Afterwards, pair should bounce in Minute wave ((b)) in 3-7-11 swing to correct cycle from 12/14/2018 high before the decline resumes.

CADJPY 1 Hour Elliott Wave Chart