CAD/JPY broke resistance level 83.50

CAD/JPY broke resistance level 83.50

  • CAD/JPY broke resistance level 83.50
  • Next buy target - 85.00

CAD/JPY continues to rise after the earlier breakout of the key resistance level 83.50 (which reversed the previous minor corrective wave 4 at the start of March, as can be seen below). CAD/JPY is expected to rise further toward the next buy target at the next resistance level 85.00 (former resistance level from February). Buy stop-loss can be placed below the aforementioned price level 83.50.

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