CADJPY: ⬇️ Sell
– CADJPY reversed from resistance area
– Likely to fall to support level 104.00
CADJPY currency pair recently reversed down from the resistance area between the pivotal resistance level 106.00 (which has been reversing the price from March), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from January.
The downward reversal from this resistance area stopped the previous short-term correction 2.
Given the strength of the resistance level 106.00 and the daily downtrend, CADJPY currency pair can be expected to fall to the next support level 104.00.
Source: Fxpro
