Description: As shown above we have FX:CADJPY .
This pair is currently , , However , there is a high possibility we could have long Bias very soon. Reason being we have had 4 Declines down into Monthly 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 close last week with price in an ascending . 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 close for today , upon this we will likely see a break of weekly and monthly resistance During the week
Indicators: : 200 and 50 currently above price with the 50 acting as magnetic resistance since late 2015. Daily 200 Magnetic Resistance and have had a cross above the 50 on todays candle. with a close this may become magnetic support.