CAD/JPY falling inside minor impulse wave
- CAD/JPY falling inside minor impulse wave
- Next sell target - 77.00
CAD/JPY continues to fall inside the minor impulse wave 5 - which stared earlier - when the pair reversed down from the resistance zone lying between the round resistance level 80.00, upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous downward impulse from the end of June. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Evening Star.
CAD/JPY is expected to fall down further in the active minor impulse wave 5 toward the next sell target at the strong support level 77.00 (which stopped the previous minor impulse wave 3 at the start of August).