CADJPY Wave Analysis – 11 June, 2020

• CADJPY reversed from support zone

• Likely to rise to 80,00

CADJPY today reversed up sharply from the support zone located between the key support level 78.33 (which reversed the price in March and April) and the 50% Fibonacci correction of the previous upward impulse from the start of May.

The upward reversal from this support zone stopped the earlier corrective wave ④ from the start of June.

CADJPY is likely to rise further toward the next round resistance level 80,00 (former minor support pivot from March).