Technical analysis

CADJPY Wave Analysis – 2 June, 2021

• CADJPY reversed from support level 90.65

• Likely to rise to resistance level 91.25

CADJPY currency pair recently reversed up from the key support level 90.65 (former resistance level from May – which stopped the previous waves 1 and (i)).

The upward reversal from the support level 90.65 stopped the previous minor correction (iv).

CADJPY can then be expected to rise further toward the next resistance level 91.25 (top of the impulse wave (i)) – followed by the resistance level 92.00 (target for the completion of wave 3).

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