I am still bearish on this pair considering my knowledge of the Canadian economy, but looks like market will prove me wrong. The pennant forming on 
CADJPY is having three points to break up and this is the third one.
What could go wrong. As you could see the first stop is 100MA(83.535x) could cause the price to bounce back. Second one is the yearly PP(84.077), which also could change the direction of the price. After that we have an empty space to 86.74x area where the first Resistance of .236(86.764) which aligns with 450 MA 86.994.
Please consider your research and use SL or hedge.
CADJPY is having three points to break up and this is the third one. What could go wrong. As you could see the first stop is 100MA(83.535x) could cause the price to bounce back. Second one is the yearly PP(84.077), which also could change the direction of the price. After that we have an empty space to 86.74x area where the first Resistance of .236(86.764) which aligns with 450 MA 86.994.
Please consider your research and use SL or hedge.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.