CADJPY Wave Analysis – 20 December, 2019

• CADJPY reversed from resistance area
• Likely to fall to 82.50

CADJPY recently reversed down from the resistance area lying between resistance level 83.60 (top of the previous wave (A)), resistance level 83.20 (monthly high from July) and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active short-term corrective wave 4.

CADJPY is expected to fall further toward the next support level 82,50 (top of the previous impulse wave 1 from last month).