CAD/JPY Is Moving Down With Lower Stock Market
Gregor Horvat | Sep 01, 2015 05:03AM ET
USD/CAD found some support earlier with quite nice bounce from 1.3116 level that can be a new impulse. In fact, a decline from 1.3355 is in three waves so we need to respect a bigger uptrend that can still be in progress. We are looking back to 1.3325 this week where a successful breakout will open door for 1.3440.
USD/CAD 1h Elliott Wave Analysis
CAD/JPY is moving down with lower stock market, so it may be time to consider even more weakness on cross pair if we consider that pair took out the lower support channel line after a completed three wave rally at 92.42. We will pay attention on coming intraday corrective rallies for possible shorts.
CAD/JPY 1h Elliott Wave Analysis
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