CADJPY Wave Analysis – 13 May 2026

CADJPY: ⬆️ Buy

– CADJPY reversed from support level 114.20

– Likely to rise to resistance level 116.00

CADJPY recently reversed up from the support level 114.20 (which has been reversing the pair from the end of March), standing near the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from February.

The upward reversal from the support level 114.20 continued the active impulse waves 3 and (3).

Given the clear daily uptrend, CADJPY can be expected to rise to the next resistance level 116.00 – former minor resistance from the start of May.