100.000 Is it the next physiological zone for CADJPY?
The Canadian dollar has been in a high bullish momentum in the past two weeks breaking all resistances and Supply zones, the next physiological zone is at 100.000 which is relatively close to the 2.618 fib extension from the last correction. Two things might happen when the price reaches that area -;
1.
In any case, we need to be patient and wait for the market to talk to us.
STAY SAFE, USE PROPER R4ISK MANAGEMENT AND LET ME KNOW WHAT YOU THINK OF THIS ANALYSIS IN THE COMMENT SECTION.
1.
- It will make a small correction before pushing even higher in which case we shall try to capitalize on that correction and eventually move with the bullish momentum that comes after the correction, 2. It will give us some sort of bearish pattern in which case we shall wait for the pattern to complete and secure a sell entry which we will hold till the end of the year (fingers crossed)
In any case, we need to be patient and wait for the market to talk to us.
STAY SAFE, USE PROPER R4ISK MANAGEMENT AND LET ME KNOW WHAT YOU THINK OF THIS ANALYSIS IN THE COMMENT SECTION.