LeoPrime Daily Market Analysis

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CADJPY broke resistance zone; Likely to rise to resistance level 89.000.

CADJPY currency pair continues to rise strongly today after the price broke through the resistance zone lying between the resistance level 88.200 (which has been reversing the price from the end of July) and the 61.8% Fibonacci correction of the previous downward impulse from July. Given the strongly bearish yen sentiment and rising cad optimism on oil gains charts – CADJPY currency pair can be expected to rise further toward the next resistance level 89.000 (target price for the completion of the active impulse wave 3)

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