Technical analysis

CADJPY Wave Analysis – 21 May, 2019

CADJPY Wave Analysis – 21 May, 2019
  • CADJPY rising inside impulse wave (3)
  • Further gains are likely

CADJPY continues to rise inside the weekly upward impulse wave (3) – which started earlier from the support area lying between the long-term support level 81.00 (which has been reversing the price from April) and the lower weekly Bollinger Band.

The active impulse wave (3) belongs to the primary upward impulse sequence ③ from the start of this year.

CADJPY is expected to rise further and retest the next round resistance level 84.00 (which reversed the earlier corrective wave B).

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