CADJPY: ⬆️ Buy
– CADJPY reversed from key support level 110.50
– Likely to rise to resistance level 112.50
CADJPY currency pair recently reversed up from the support zone between the key support level 110.50 (former resistance from the end of November of 2025, which stopped wave 1 in the middle of September), support trendline of the daily down channel from the end of April and the lower daily Bollinger Band.
The upward reversal from this support zone stopped the short-term downward impulse wave 3 from the middle of September.
Given the strength of the support level 110.50 and the bearish yen sentiment seen today across the FX markets, CADJPY currency pair can be expected to rise further toward the next resistance level 112.50 – which stopped wave 2 in the middle of September.
, support trendline of the daily down channel from the end of April and the lower daily Bollinger Band.){kind=link}