CADJPY Wave Analysis 16 December, 2020

• CADJPY reversed from key resistance level 82.00

• Likely to fall to 80.40

CADJPY previously reversed down from the key resistance level 82.00 (which also reversed the price at the start of May as can be seen from the daily CADJPY chart below).

The downward reversal from the resistance level 82.00 started the active downward impulse waves 1 and (1).

CADJPY is expected to fall further toward the next support level 80.40 (former resistance from the end of November).