September 16, 2020 at 03:49PM
• CADJPY broke support area
• Likely to fall to 79.00
CADJPY recently broke the support area lying between the round support level 80.00 (which stopped earlier waves (b) and (i)) intersecting with the 38.2% Fibonacci correction of the previous wave 2 from July.
The breakout of the support area should accelerate the active short-term impulse wave (iii) from the start of September.
CADJPY is likely to fall further toward the next support level 79.00 (former minor support from the start of August).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/cadjpy-wave-analysis-16-september-2020-20200916/
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