Technical analysis

CADJPY Wave Analysis – 14 April 2023


• CADJPY broke resistance level 99.20

• Likely to rise to resistance level 100.55

CADJPY currency pair recently broke the resistance level 99.20 (which stopped the previous minor wave (a) at the start of April).

The breakout of the resistance level 99.20 accelerated the C-wave of the active ABC correction 2.

CADJPY can then be expected to rise further toward the next resistance level 100.55 (top of wave (2) from February and the target for the completion of the active C-wave).

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