Technical analysis

CADJPY Wave Analysis 20 June 2024

– CADJPY under bullish pressure

– Likely to rise to resistance 117.00

CADJPY currency pair under the bullish pressure after the price broke above the key resistance level 115.40 (which stopped the previous impulse wave 1 at end of May).

The breakout of the resistance level 115.40 accelerated the active impulse waves 3 and (3).

Given the clear multi-month uptrend and the continuation of the bearish yen sentiment, CADJPY currency pair can be expected to rise further to the next resistance level 117.00.

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