MarlyForex
Long

CADJPY - POSSIBLE LONGS!!

FX:CADJPY   Canadian Dollar/Japanese Yen
63 0 11
Display: FX:CADJPY            
Description: As shown above we have FX:CADJPY             .This pair is currently , Bearish , However , there is a high possibility we could have long Bias very
soon.Reason being we have had 4 Declines down into Monthly Support Area Around 79.60 - 82.000 5 consecutive months in a row. Failing to close in that area this
indicates we have very strong support combined with Distinctive wicks to the Low.

Monthly Chart is showing a series of Exhaustion/ Reversal Candles. The week we had a spinning Top close last week with price in an ascending trend line . Possible
Bearflag to come. Last week we had price Rally up into weekly resistance 85.25 and failed to close above which gave us a short term decline ending the week with 2 Dojis.
I now will look for a Bullish close for today , upon this we will likely see a break of weekly and monthly resistance During the week.

Indicators: : 200 and 50 EMA currently above price with the 50 EMA acting as magnetic resistance since late 2015. Daily 200 Magnetic Resistance and have had a
cross above the 50 on todays             candle. with a bullish close this may become magnetic support.
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