Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
CAD/JPY reached sell target 87.40
2019-11-11 • Updated
- CAD/JPY reached sell target 87.40
- Next sell target - 84.00
CAD/JPY continues to fall inside the minor corrective wave 2, which started earlier from the powerful resistance zone lying between the upper weekly Bollinger Band and the key resistance level 88.90 (which has been reversing the price from the middle of 2016, as can be seen below). The price earlier broke through the support level 87.40 (previous sell target) – which accelerated the active wave 2. CAD/JPY is expected fall to next sell target at the next support level 84.00 (target price for the completion of wave 2).
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