CADJPY Wave Analysis – 09 January, 2020

• CADJPY reversed from resistance area
• Likely to fall to 83.00

CADJPY recently reversed down from the resistance area lying between the resistance level 83.80 (which has been reversing the price from last April) and the upper daily Bollinger Band.

The downward reversal from this resistance area is aligned with the active impulse wave (1) – which started at the end of December.

CADJPY is likely to fall further toward the next support level 83.00 (low of the previous short-term correction 4 from last month).