CAD/JPY
On the daily chart, we can see that the price had bounced from the support level at 80.65 with breaking the descending channel and descending trend
the price has reached the key resistance level at 85.95 which is moving average 200 too
the pair is in range between this resistance level & the support zone 84.25-83.95, which is the located price right now
so, we expect another pull back from this area to reach the dash resistance at 85.5 to shape a head & shoulders pattern ( look at the marked highs)
or, if the price breaks beneath this zone, it could retest again the support level at 80.65
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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.