CADJPY: ⬆️ Buy
– CADJPY reversed from support zone
– Likely to rise to resistance level 112.00
CADJPY currency pair recently reversed from the support zone located between the strong support level 111.00 (which stopped earlier sharp downward impulse wave (C) at the end of July) and the lower daily Bollinger Band.
This support zone was strengthened by the 50% Fibonacci correction of the upward impulse from October and by the support trendline of the weekly down channel from May.
Given the strength of the support level 111.00, CADJPY currency pair can be expected to rise further to the next resistance level 112.00.