CADJPY Looking Higher After Complex Correction

24 Okt 2017

CADJPY found support at 89.00 and made impulsive rally last week after long one month complex correction. So, we see five waves up with Bullish Market Truncation in fifth wave, broken channel resistance and three waves down correction, which is our signal for longs. We expect a bounce in days ahead into third wave up back to new highs. CADJPY is bullish as long as 89.00 invalidation level holds.

24 Okt 2017

Catatan

Perfect bounce from 61,8% Fibo. level with broken channel resistance! Break above 90.30 could be a signal for more upside into 3rd wave towards new highs.