I think the CADJPY looks to become bullish for a while, after which I expect it to trace downwards.
I see a break out of a triangle soon. Higher lows and bullish RSI and almost bullish MACD too. Now supported by the MA20 (green line).
If it breaks out of triangle it will also go above the MA50 (blue).
Then (S) is next level of support area, which co-exists with the previous strong channel. After that I expect it to bounce and turn bearish.
Let's see!
I see a break out of a triangle soon. Higher lows and bullish RSI and almost bullish MACD too. Now supported by the MA20 (green line).
If it breaks out of triangle it will also go above the MA50 (blue).
Then (S) is next level of support area, which co-exists with the previous strong channel. After that I expect it to bounce and turn bearish.
Let's see!