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CADJPY Wave Analysis – 9 July 2025

CADJPY: ⬇️ Sell

– CADJPY reversed from resistance area

– Likely to fall to support level 106.00

CADJPY currency pair recently reversed from the resistance area located between the resistance level 107.40 (former monthly high from June), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from November.

The downward reversal from this resistance area stopped the previous intermediate corrective wave (B).

Given the strength of the resistance level 107.40 and moderately bullish yen sentiment seen today, CADJPY currency pair can be expected to fall to the next support level 106.00.

Source: Fxpro

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