CAD/JPY broke support zone

CAD/JPY broke support zone

  • CAD/JPY broke support zone
  • Next sell target - 87.60

CAD/JPY recently broke the support zone lying between the key support level 89.00 (which stopped previous wave (a)), support trendline from August and the 38.2% Fibonacci correction of the previous upward impulse 1. The breakout of this support zone accelerated the active minor impulse wave (c) of the ABC correction 2 from the middle of September. CAD/JPY is expected to fall to the next sell target at the next support level 87.60 (forecast price for the completion of the active wave 2).

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