CADJPY Wave Analysis – 02 Janaury, 2019

• CADJPY broke long-term support level 81.00
• Further losses are likely

CADJPY opened this year with the sharp downward impulse, which broke through the long-term support level 81.00 (which previously reversed the price sharply in April of 2017 and in January).

The breakout of the support level 81.00 accelerated the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (C) from July.

CADJPY is expected to fall further and re-test the next support level 78.6 (forecast price calculated for the completion of the active impulse wave 3).