CADJPY Updated - 5 waves completed?
CADJPY.
The downward seems more likely from this point and the previous waves can be marked as completed 5 waves.
Remember, this will remain an alternate move only, until the upward trend channel breaks to the downside. We can expect a good downward move from this point.
USDCAD has also started its impulsive move to the upside this week. This also implies weakness in Canadian Dollar (along with strength in USD).
The alternate count:
The downward seems more likely from this point and the previous waves can be marked as completed 5 waves.
Remember, this will remain an alternate move only, until the upward trend channel breaks to the downside. We can expect a good downward move from this point.
USDCAD has also started its impulsive move to the upside this week. This also implies weakness in Canadian Dollar (along with strength in USD).
The alternate count:
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