- CADJPY broke round support level 80.00
- Further losses are likely
CADJPY recently broke below the round support level 80.00 (which stopped the sharp downward impulse wave 1 at the end of May, as can be seen below).
The breakout of this support level accelerated the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (C) from February.
CADJPY is expected to fall further and retest the next support level 79.00 (which reversed the price earlier this month).