Thursday, August 4, 2016

Intra-day Correction in CadJpy?

Price, from the end of the 4th wave at 82.51 has been on a bearish move since mid-July as did many Yen pairs.

Now presently at the base of the previous 3rd wave, we might see a corrective rally to probably 80.25.

The chart above shows the dip from 82.51 has probably completed a 5-wave impulse move. A correction is imminent before a probably stronger dip.

A strong break above 77.75 should confirm this move. The correction may likely get to 80.25 or break above it.

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