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This daily chart of the CAD/JPY is an update. In my previous analysis I noted that the upward price cycle of wave 2 was not ready for termination. This view was derived from the Declination Cycles labeled "F" and "G." With the completion of "F" & "G" the time component requirement for the upward price movement has been satisfied. March 8, 2010 marks the day of the cycle "G" completion.
My previous forecast concluded that on March 11, 2010 price would meet 88.03. The first leg up in this rally was expected to terminate at 86.92. This however was not the case. The first leg extended itself and actually reached the secondary target of 88.03
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*The new forecast concludes that price is expected to begin a significant decline down to 76.21
*This decline is not expected to fall below 75 before a large corrective rally will occur.
*April 6, 2010 is the target date for termination at 76.21
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