• CADJPY broke key resistance level 85.70
• Further gains are likely
CADJPY continues to rise after the recent breakout of the key resistance level 85.70 (which has been steadily reversing the price from the start of June, as can be seen from the daily CADJPY chart below).
The breakout of the resistance level 85.70 should accelerate the active the short-term impulse wave 3 of the medium-term impulse wave (3) from last month.
CADJPY is likely to rise further and re-test the next major resistance level 87.00 (top of the previous impulse wave (1) from May).