What happened? Japanese shares fell on Monday…
CAD/JPY reversed from resistance zone
2019-11-11 • Updated
- CAD/JPY reversed from resistance zone
- Next sell target - 84.00
CAD/JPY recently reversed down from the resistance zone lying between the key resistance level 85.60 (which stopped the previous corrective wave 2 with the Shooting Star in June, as can be seen below), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse (1) from the end of May. CAD/JPY is expected to fall further toward the next sell target at the next support 84.00 (low of wave B).
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
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