CADJPY Wave Analysis – 16 September, 2020

• CADJPY broke support area

• Likely to fall to 79.00

CADJPY recently broke the support area lying between the round support level 80.00 (which stopped earlier waves (b) and (i)) intersecting with the 38.2% Fibonacci correction of the previous wave 2 from July.

The breakout of the support area should accelerate the active short-term impulse wave (iii) from the start of September.

CADJPY is likely to fall further toward the next support level 79.00 (former minor support from the start of August).