CADJPY currency pair recently reversed down from the strong resistance level 103.000 (former monthly high from April, which stopped wave 3), intersecting with the upper daily Bollinger Band. The downward reversal from the resistance level 103.000 stopped the previous short-term
upward impulse wave (iii) from the end of May. Given the strength of the resistance level 103.000, bearish Canadian dollar sentiment seen
across the FX markets today and the overbought daily Stochastic, CADJPY currency pair can be expected to fall further toward the next support level 101.650(former resistance from May).
CADJPY reversed from strong resistance level 103.000; Likely to fall to support level 101.650.
