CADJPY: ⬆️ Buy
- CADJPY reversed from strong support level 114.00
- Likely to rise to resistance level 117.00
CADJPY currency pair recently reversed from the support zone between the strong support level 114.00 (low of wave 2 from the end of March), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from February.
The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer- strong buy signal for this currency pair.
Given the clear daily uptrend, CADJPY currency pair can be expected to rise to the next resistance level 117.00 (which has been reversing the price from the start of March).
