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Long

CAD/JPY forms Bullish Gartley Pattern, good to buy at dips

FX:CADJPY   Canadian Dollar/Japanese Yen
116 0 5
Harmonic Pattern Formed- Bullish Gartley pattern

Potential Reversal Zone (PRZ) – 82.25

CAD/JPY             has completed its Bullish Gartley Pattern at 82.90. It is currently trading around 83.35 level.

Short term trend is slightly bullish as long as support 82.25 holds. On the lower side any break below 82.25 will drag the pair down till 81.70/81. The minor support is around 82.90/82.50.

The pair’s minor resistance is around 83.46 (23.6% retracement of 85.22 and 82.90) and break above targets 83.75 (21 day 4H MA)/84.35/85.45.

It is good to buy at dips around 83.10-15 with SL around 82.25 for the TP of 84.35/85
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