Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
CAD/JPY reversed from resistance level 83.50
2019-11-11 • Updated
- CAD/JPY reversed from resistance level 83.50
- Next sell target - 81.30
CAD/JPY recently reversed down from the key resistance level 83.50 (former support level from June of 2017). The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Dark Cloud Cover – which marked the start of the active impulse wave 5. CAD/JPY is expected to fall toward the next sell target at next support level 81.30 (low of the previous impulse wave 3).
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