• CADJPY broke the key resistance level 88.300
• Likely to rise to resistance 90.00
CADJPY currency pair recently broke the key resistance level 88.300 (which has been reversing the price from the middle of March and which was set as the likely upward target in our earlier forecast for this currency pair). The breakout of this resistance level 88.300 accelerated active short-term impulse wave 5 – which belongs to the intermediate upward impulse sequence (C) from last year – as can be seen below.
Given the prevailing daily uptrend – CADJPY currency pair can be expected to rise further toward the next round resistance level 90.00 (target price for the completion of the active impulse waves 5 and (C)).