CADJPY ELLIOT WAVE BREAKDOWN (BEARISH)

Currently, price is in a correction phase but obviously in wave two (2) of the overall movement in the monthly timeframe. Always remember that wave two(2) is a corrective wave and it contains only three(3) waves i.e. ABC wave. However, we're not sure if its a running correction or expanding correction but for now watch for the break of that trendline. Moreover, Price might respect the 78.6% fibs level and drop.

TIPS
WAVE A = 3 WAVES
WAVE B = 3 WAVES
WAVE C = 5 WAVES
To enter, watch for trendline break and a correction for safe entry..........