CAD/JPY broke resistance level 85.60
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- CAD/JPY broke resistance level 85.60
- Next buy target - 87.00
CAD/JPY today broke sharply above the major resistance level 85.60 (which reversed the previous waves A and 2, as can be seen below). The breakout of this resistance level continues the active short-term impulse wave C – which is a part of the intermediate ABC correction (2) from the end of June. CAD/JPY is expected to rise further toward the next buy target at the next resistance level 87.00 (multi-month high from May and the target for completion of wave (2)).
