CAD/JPY: sell target - 82.00
By: Dmitriy Chernovolov
- CAD/JPY broke multiple support levels
- Next sell target - 82.00
CAD/JPY has been falling sharply in the last few trading sessions – breaking through multiple consecutive support levels - 86.30 (previous sell target set for this currency pair), 85.00, 84.00 and the support trendline of the wide weekly down channel from last year, as you can see below. The breakout of these support levels accelerated the active minor impulse waves (iii) and 5.
CAD/JPY is likely to fall further in the active impulse waves (iii), 5, (3) and ③ toward the next sell target at the support level 82.00 (target price for the termination of the impulse wave (iii)).