Elliott Wave View: CADJPY Should Continue to Extend Higher

CADJPY shows a bullish sequence from the August 02 2022 low suggesting further upside is likely. The Rally from the August 02 low is unfolding as an impulse Elliott Wave structure. high from August 02 down, wave 1 ended at 105.100, and the decline in wave 2 ended at 102.600 as the 1-hour chart below shows. Pair has resumed higher in wave 3 which subdivides into another impulse to a minute degree.

low from wave 2, wave ((i)) ended at 106.800, and the decline in wave ((ii)) ended at 105.460. The internal subdivision of wave ((ii)) took the form of a zig-zag. Up from wave ((i)), wave (a) ended at 105.580, wave (b) ended at 106.100, and wave (c) of ((ii)) ended at 105.460. The pair then turned higher in wave ((iii)).  Near term, as far as pivot at 102.600 low stays intact, expect the decline to fail in 3, 7, or 11 swings for further upside. The potential target high is 100% – 161.8% Fibonacci extension from 8.02.2022 up at 106.280 – 108.570 and already reached but still, we don’t get wave 3 minor degree because the rally has created extension in the meantime we can see further upside, Elliott wave view: CADJPY Should Continue to Extend Higher. 

CADJPY 1 Hour Elliott Wave Chart 29 August 2022
Elliott Wave View: CADJPY Should Continue to Extend Higher

Most Recent Articles

Elliott Wave View: NZDUSD Gains Buyers Momentum After Completing Zigzag Correction

Elliott Wave View: NZDUSD Gains Buyers Momentum After Completing Zigzag Correction

"Dear Traders, In this technical article, we’re going to take a look at the Elliott Wave charts of NZDUSD, which are thoughtfully presented in the exclusive member's area on our

November 22, 2023
Elliott Wave View: EURAUD Found Buyers After Completed Double Three Pattern

Elliott Wave View: EURAUD Found Buyers After Completed Double Three Pattern

Hello fellow traders.  In this technical article, we’re going to take a look at the Elliott Wave charts of EURAUD, presented in the member's area on our website.  Recently, EURAUD

June 29, 2023
Elliott Wave View: AUDUSD any Rally it can Fail for More Downside

Elliott Wave View: AUDUSD any Rally it can Fail for More Downside

The short-term Elliott Wave view on AUDUSD suggests that the cycle from the 8.11.2022 high is in progress as a 5 waves impulse structure. Down from the 8.11.2022 high, wave

October 20, 2022
Elliott Wave View: CADJPY Should Continue to Extend Higher

Elliott Wave View: CADJPY Should Continue to Extend Higher

CADJPY shows a bullish sequence from the August 02 2022 low suggesting further upside is likely. The Rally from the August 02 low is unfolding as an impulse Elliott Wave

September 8, 2022
Elliott wave View: Bitcoin (BTCUSD) Entering Into A Wave Five Lower

Elliott wave View: Bitcoin (BTCUSD) Entering Into A Wave Five Lower

The short-term Elliott wave view in BTCUSD suggests that the decline from March 28, 2022, High is unfolding as an impulse structure favoring some more downside. Down from 03/28/2022 high,

June 14, 2022
Elliott Wave View: EURJPY Buyers in Control

Elliott Wave View: EURJPY Buyers in Control

In this technical blog, we’re going to take a quick look at the Elliott Wave charts of EURJPY published in the member's area of the website.  As our members knew,

June 8, 2022
error: Content is protected !!
Scroll to Top