Categories: Technical analysis

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).

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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