Categories: Technical analysis

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).

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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