- CADJPY reversed from resistance area
- Likely to fall to support level 106.00
CADJPY currency pair recently reversed from the resistance area located between the resistance level 107.40 (former monthly high from June), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from November.
The downward reversal from this resistance area stopped the previous intermediate corrective wave (B).
Given the strength of the resistance level 107.40 and moderately bullish yen sentiment seen today, CADJPY currency pair can be expected to fall to the next support level 106.00.
- Likely to fall to support level 106.00
CADJPY currency pair recently reversed from the resistance area located between the resistance level 107.40 (former monthly high from June), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from November.
The downward reversal from this resistance area stopped the previous intermediate corrective wave (B).
Given the strength of the resistance level 107.40 and moderately bullish yen sentiment seen today, CADJPY currency pair can be expected to fall to the next support level 106.00.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.