CADJPY was forming a last impulsive wave 5 of primary degree.
It had completed the corrective structure, running flat.
After accomplishing the C leg, the price surged from 87.48 to 90.
Price was above 50-MA, which was the indication of a strong trend. It was a beginning of a new impulsive move. I found that the price can make a big move up to 93.84.
As I mentioned in my previous article, “We can expect the following targets 91.46-92.29-93.849“.
Click Here to read the previous research report.
Price broke the 50-MA & minor resistance of 90.382.
Yesterday, CADJPY reached the first target of 91.46 and made a new high of 91.667.
Although the price is gaining momentum, it never moves in a straight line.
It will create a series of highs and lows to create an uptrend.