Hello Guys I am going to analyze CAD JPY currency pair let us start with the top-to-bottom Elite wave analysis inside the daily time frame the trend is up in CAD JPY currency daily time frame support is presented 104.15 price level price action is most likely going to drop and then rise more to complete bullish wave three impulse leg in coming trading days decisive bearish break below 104.15 support area is going to end uptrend in the daily chart of CAD gen currency pair
At 4Hour time frame price action is printing higher swing highs and higher swing lows to me cat JPY PA Trend looks up in 4hour time frame
At 1 hour's time frame the trend is down in the 1-hour chart intraday resistance is present at 117.31 price level price action is most likely going to rise to print bullish wave B pullback and then drop print bearish wave C zigzag corrective offers a chance to join the downtrend in Ken pair decisive bullish breakout above 117.31 resistance level is going to end downtrend in 1 hour chart of the Canadian dollar versus the Japanese yen currency pair
More specifically the red color in the highlighted area offers a selling opportunity which is the previous fourth wave one lesser degree do not jump into the market with a sell trade and wait for a bearish breakdown
