August 12, 2020 at 03:55PM
• CADJPY broke round resistance level 80.00
• Likely to rise to 81.65
CADJPY continues to rise after the earlier breakout of the round resistance level 80.00 (former monthly high from July), coinciding with the 50% Fibonacci correction of the previous downward impulse wave 1.
The breakout of the resistance level 80.00 accelerated the active upward impulse wave (c) from the start of July.
July is likely to rise further toward the next resistance level 81.65 (target price for the completion of the active ABC correction 2).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/cadjpy-wave-analysis-12-august-2020-20200812/
Selected by fonecable.com
Search Web: CADJPY Wave Analysis – 12 August, 2020
Recent Posts
- Crude Oil Over Crypto
- US Dollar Price Action Setups pre-CPI: EUR/USD, GBP/USD, USD/JPY
- Cathie Wood & Ark: Insiders Aren’t Buying the Hype
- Breaking News: ECB Holds Rates, Setting up July and September for Fireworks
- Currency Carry Trade: What is it and how does it work?
