81-82 is a weekly buy zone for $CADJPY that already generated impressive 500 pips rally the last time I traded it.
After it was rejected by the 200 days MA line, $CADJPY is back near the support zone but now it is above the broken downtrend line (red dashed line).
Those who seek bearish opportunities may look at the potential Head and Shoulder pattern (blue circle) but considering that $CADJPY is near weekly support zone that includes also a weekly uptrend line (green dashed line) and potential Aggressive C setup for a weekly Gartley pattern (yellow), I prefer to focus on the bullish side.
Tomer, The MarketZone
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After it was rejected by the 200 days MA line, $CADJPY is back near the support zone but now it is above the broken downtrend line (red dashed line).
Those who seek bearish opportunities may look at the potential Head and Shoulder pattern (blue circle) but considering that $CADJPY is near weekly support zone that includes also a weekly uptrend line (green dashed line) and potential Aggressive C setup for a weekly Gartley pattern (yellow), I prefer to focus on the bullish side.
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week goo.gl/28uI95
To subscribe to the newsletters - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT
80 is next weeks critical support zone