Technical analysis

CADJPY Wave Analysis 5 February 2024

– CADJPY reversed from resistance level 110.30

– Likely to fall to support level 109.00

CADJPY currency pair recently reversed down from the key resistance level 110.30, which has been reversing the pair from the middle of November.

The resistance level 110.30 reversed the pair multiple times from last month.

Given the strength of the resistance level 110.30 and the strengthening yen gains, CADJPY currency pair can be expected to fall further to the next support level 109.00.

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