CADJPY Wave Analysis – 13 December, 2022

• CADJPY reversed from round support level 100.00

• Likely to rise to resistance level 101.60

CADJPY recently reversed up once again from the round support level 100.00, intersecting with the 50% Fibonacci correction of the upward impulse from February.

The upward reversal from the support level 100.00 started the active short-term ABC correction 4.

CADJPY can be expected to rise further toward the next resistance level 101.60 (former strong support from June, August and November).