CAD/JPY broke combined support area

CAD/JPY broke combined support area

  • CAD/JPY broke combined support area
  • Next sell target - 86.70

 CAD/JPY today broke through the combined support area lying between the pivotal support level 0.8100 (which also stopped the two previous corrective waves 2 and (2), as can be seen below) and the extended support trendline from the start of August. The breakout of this support area strengthened the bearish pressure on this currency pair.  CAD/JPY is expected to fall further toward the next sell target at the next support level 86.70 (multi-month low from November).

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