CAD/JPY (Market Update): We have finally broken out of our LONG consolidation zone. However it was easy to catch this sell in various occasions we proffered to keep it at a conservative level. I am still expecting a downside to probably 88.000. We actually had recently a 23.6% pull-back which is something nice to have. So we may be getting close to the last push towards our target.
Regarding a bullish bias, I don't see myself placing any -BUY- as I would need price to close above my 4H trend-line which if it does then we may be discussing some Long opportunities but I don't think we are close to that at least for the time being.
Hopefully this pull-back was what we needed to get that extra push to the downside.
Regarding a bullish bias, I don't see myself placing any -BUY- as I would need price to close above my 4H trend-line which if it does then we may be discussing some Long opportunities but I don't think we are close to that at least for the time being.
Hopefully this pull-back was what we needed to get that extra push to the downside.