CADJPY Wave Analysis – 16 February 2026

CADJPY: ⬆️ Buy

– CADJPY reversed from support zone

– Likely to rise to resistance level 113.00

CADJPY currency pair recently reversed up from the support zone between the support level 112.00 (former low of wave A from January), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from November.

The upward reversal from this support zone is likely to form the daily Japanese candlesticks reversal pattern Morning Star.

Given the strong daily uptrend, CADJPY currency pair can be expected to rise to the next resistance level 113.00.

Source: https://fxpro.news