CADJPY - Wave C Near Completion: Big Drop Coming!

We’ve been tracking CADJPY for years, and price has followed Elliott Wave structure almost perfectly.

In mid‑2024, an ending diagonal signalled the top and kicked off a major bearish impulse. That drop formed wave A of the current ABC correction. Wave B completed in late 2024, and price is now in wave C -pushing toward the 50–61.8 % Fibonacci retracement, which marks our sell zone.

We’ll be watching for a trendline to form into this zone. A clean break of that trendline will be our trigger to enter shorts.

Trade Idea:
- Watch for rejection in the 50–61.8 % sell zone
- Aggressive entry: Inside sell zone with stops above rejection
- Conservative entry: On break of trendline, stops above the break candle

Targets:
TP1: 101.5 (1000pips)
TP2: 95 ( 1650pips)
Optional: Leave a runner for a long-term swing

See below for our previous CADJPY setups:

Swing 1:

Swing 2:

Swing 3:

Swing 4:

Goodluck and as always, trade safe!