LeoPrime Daily Market Analysis

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CADJPY broke resistance zone; Likely to rise to resistance level 96.000

CADJPY currency pair continues to rise after the earlier breakout of the resistance zone located between the key resistance level 92.850 (previous multi-month high from last October) and the resistance trendline of the daily up channel from December. The breakout of this resistance zone  accelerated the active impulse waves (iii) and C.

Given the clear daily uptrend, CADJPY currency pair can be expected to rise further toward the next resistance level 96.000 (target for the completion of the active impulse wave C).

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