- CADJPY reversed from strong support 101.60
- Likely to rise to resistance level 105.00
CADJPY currency pair recently reversed from the support zone surrounding the strong support 101.60 (which has been reversing the price since last August). This support zone was strengthened by the lower daily Bollinger Band.
The upward reversal from support 101.60 stopped the earlier intermediate impulse wave (5) from the end of March.
Given the strength of the support 101.60 and the bullish Canadian dollar sentiment seen today, CADJPY currency pair can be expected to rise to the next resistance level 105.00.
- Likely to rise to resistance level 105.00
CADJPY currency pair recently reversed from the support zone surrounding the strong support 101.60 (which has been reversing the price since last August). This support zone was strengthened by the lower daily Bollinger Band.
The upward reversal from support 101.60 stopped the earlier intermediate impulse wave (5) from the end of March.
Given the strength of the support 101.60 and the bullish Canadian dollar sentiment seen today, CADJPY currency pair can be expected to rise to the next resistance level 105.00.
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.