CADJPY Wave Analysis 15 January, 2021

• CADJPY reversed from resistance level 82.00

• Likely to fall to 81.00

CADJPY recently reversed down from the key resistance level 82.00 (former monthly high from December – which stopped the previous minor impulse wave (i)).

The downward reversal from the resistance level 82.00 stopped the previous impulse wave 3 of the medium-term impulse sequence (C) from July.

CADJPY is expected to fall further toward the next support level 81.00 (former multi-day resistance level from the end of December).