CADJPY Wave Analysis – 21 February 2025

- CADJPY broke support zone
- Likely to fall to support level 104.00

CADJPY currency pair recently broke the support zone between the key support level 105.40 (which has been reversing the price from September) and the 61.8% Fibonacci correction of wave (2) from August.

The breakout of this support zone should accelerate the active impulse wave 3 of the intermediate impulse wave (3) from November.

Given the strong daily downtrend and the bullish yen sentiment seen today, CADJPY currency pair can be expected to fall to the next support level 104.00.