CADJPY Wave Analysis – 7 April 2025

CADJPY: ⬆️ Buy

– CADJPY reversed from strong support 101.60

– Likely to rise to resistance level 105.00

CADJPY currency pair recently reversed from the support zone surrounding the strong support 101.60 (which has been reversing the price since last August). This support zone was strengthened by the lower daily Bollinger Band.

The upward reversal from support 101.60 stopped the earlier intermediate impulse wave (5) from the end of March.

Given the strength of the support 101.60 and the bullish Canadian dollar sentiment seen today, CADJPY currency pair can be expected to rise to the next resistance level 105.00.

Source: https://fxpro.news