CAD/JPY rising inside intermediate ABC correction (4)
- CAD/JPY rising inside intermediate ABC correction (4)
- Next buy target - 83.00
CAD/JPY continues to rise inside the C-wave of the intermediate ABC correction (4) from the end of June. The active C-wave earlier broke through the powerful resistance level 80.00 (former strong support from January and February, which also earlier reversed the previous A-wave). The breakout of the resistance level 80.00 accelerated the active impulse wave C.
CAD/JPY is currently trading close to the pivotal resistance level 81.70 (low of the previous (B)-wave). If the pair breaks above 81.70 - CAD/JPY can then be expected to rise further to the next resistance level 83.00 (target price for the completion of wave (4)).