CADJPY high probability trend reversal

11 Haz 2021

Looking at the weekly chart for CADJPY pair we can make an assumption based on Elliot wave corrective patterns that Weekly running flat is completed. By Elliot rules, the C wave in a running flat does not go and break the end of the A wave in the correction. In this case, it is very risky to get in sell setup there are still 120 pips to break the end of A wave which would give us the possibility for the expanded flat weekly corrective pattern. Longer-term sell setup for all YEN pairs except USDJPY.