Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: CADJPY

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