Market Snapshots

CADJPY Wave Analysis 12 November, 2020

CADJPY Wave Analysis 12 November, 2020

• CADJPY reversed from resistance level 81.40

• Likely to fall to 79,00

CADJPY recently reversed down from the strong resistance level 81.40, which is the upper boundary of the wide sideways price range inside which the pair has been trading from June.

The resistance level 81.40 was strengthened by the upper daily Bollinger Band.

CADJPY is likely to fall further toward the next support level 79,00 (low of the previous minor correction from the start of November).

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