CADJPY Wave Analysis 21 December, 2020

• CADJPY broke daily up channel

• Likely to fall to 80,00

CADJPY continues to fall after the price reversed down from the powerful resistance level 82.00 standing close to the upper daily Bollinger Band.

The price earlier broke the support trendline of the daily up channel from October – which added to the bearish pressure on CADJPY.

CADJPY is expected to fall further toward the next round support level 80,00 (which started the previous upward impulse wave (c) at the end of November).