Market Snapshots

CADJPY Wave Analysis – 31 October, 2019

CADJPY Wave Analysis – 31 October, 2019
  • CADJPY reversed from resistance area
  • Likely to fall to 82.00

CADJPY recently reversed down from the resistance area lying between the resistance level 83.25 (former monthly high from July) and the upper daily Bollinger Band. The downward reversal from this resistance area started the active impulse wave 3.

The active impulse wave 3 belongs to the extended multi-month downward impulse sequence (3) from March.

CADJPY is expected to fall further and retest the next support level 82.00 (former resistance level from September).

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