Technical analysis

CADJPY Wave Analysis – 1 July, 20211

• CADJPY reversed from support area

• Likely to rise to resistance level 90.35

CADJPY recently reversed up from the support area lying between the support level 89.00 and the 61.8% Fibonacci correction of the upward impulse B from the middle of June.

The upward reversal from this support area stopped the previous short-term impulse wave (i).

Given the clear uptrend – CADJPY can be expected to rise further toward the next resistance level 90.35 (top of the previous wave B).

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