Dale_Ansel
Long

CADJPY - Possible Reversal - LONG

FX:CADJPY   Canadian Dollar/Japanese Yen
125 2 2
Some good things happening here:

1. Downtrend breaks long-term support.
2. Strong bullish candles come back up through support area .
3. Come back down to retest old support area and bounce.

This pair was also using the 34-EMA "Low" (Red) as dynamic
resistance during the downtrend, now the 34-EMA "High" is providing
support.

The current price is hovering around the .618 fib line....

Lets watch for a continuation past this area and it a BUY.
Thank you for that chart !
I think it also would be wise to wait few candles after this break to make sure chart will not bounce back, how do you think ?
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Dale_Ansel PRO Grzegorz_Szafranski
Agreed =)
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