CADJPY's 4 hourly chart revealed the downtrend since the February 20, 2020 high formed a complete five-wave impulse. Labeled (i)-(ii)-(iii)-(iv)-(v), this pattern meant a three-wave correction should follow.
And that's what has been unfolding since the bottomed on 9th March. The price made a three-wave rally in wave (a), followed by another three-wave decline in wave (b), these three-waves move inclined that a 3-3-5 flat pattern is in the making.
Once the current rally in wave (c) is completed, we would most likely see another decline that will trade below wave (b) low.
What's your view on CADJPY?
And that's what has been unfolding since the bottomed on 9th March. The price made a three-wave rally in wave (a), followed by another three-wave decline in wave (b), these three-waves move inclined that a 3-3-5 flat pattern is in the making.
Once the current rally in wave (c) is completed, we would most likely see another decline that will trade below wave (b) low.
What's your view on CADJPY?
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