USD: technical outlook
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
CAD/JPY broke resistance zone
- CAD/JPY broke resistance zone
- Next buy target - 87.20
CAD/JPY recently broke through the resistance zone lying between the pivotal resistance level 85.70 (which stopped the pervious waves (1) and B, as can be seen below) and the 61.8% Fibonacci correction of the pervious sharp downward impulse from February. The breakout of this resistance zone accelerated the active impulse wave (3). CAD/JPY is expected to rise further toward the next buy target at the next resistance level 87.20.
Dmitry Chernovolov
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