CADJPY Wave Analysis – 6 June, 2022
June 06, 2022 @ 19:19 +03:00
• CADJPY broke resistance level 102.00
• Likely to test resistance level 105.00
CADJPY recently broke above the strong resistance level 102.00 (which has been reversing the pair since the middle of April) .
The breakout of the resistance level 102.00 accelerated the active medium-term impulse wave (3) – which started earlier from the key support level 98.40.
Given the strong daily uptrend – CADJPY currency pair can be expected to rise further toward the next resistance level 105.00 (target price for the completion of the active impulse wave (3)).