#CADJPY Continuing to rise in the upward channel that began its existence in October 2020, the price came to the strong resistance zone of 83.83 formed at the intersection of two lines. One of these lines is the channel resistance line.
The second is the currently strongest resistance line for the chart, created in 2015! Despite the fact that the last days the price has shown growth and has grown to the upper border of this zone, I expect that its next step will be a fall. The price will bounce off the 83.83 line, break through the 83.55 zone and fall to the support line. So my final target is the 82.09 support line.
The second is the currently strongest resistance line for the chart, created in 2015! Despite the fact that the last days the price has shown growth and has grown to the upper border of this zone, I expect that its next step will be a fall. The price will bounce off the 83.83 line, break through the 83.55 zone and fall to the support line. So my final target is the 82.09 support line.