Forex

CADJPY Might Have Topped: Elliott Wave UpdateOct 3, 2023

CADJPY might have topped as we see it turning sharply down after a complete 5th wave by Elliott wave theory.

In September we have been talking and sharing a lot about CADJPY pair, where we were tracking final 5th wave, which came out of bullish wave 4 triangle pattern. CLICK HERE

Today on October 3rd USD/JPY smashed lower in sign of intervention. The MOF shows up right on time. Masato Kanda, the top currency official at the (MOF) Ministry of Finance has said he’s keeping in close contact with his US counterparts.

CADJPY is sharply down after a completed higher degree wave V, so it can be now turning bearish in minimum three waves A/1-B/2-C/3 down to 106 – 104 area for wave C or maybe even lower for wave 3, but ideally after current pullback in wave B/2.

CADJPY Might Have Topped: Elliott Wave Update CADJPY 4H Chart
CADJPY 4H Chart

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

Register and look inside of our members area

Big Support For Gold at $1800. Check our recording of a latest live webinar HERE.

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close