CAD/JPY Analysis
The price has broken out of the Ascending Channel and went up straight into the liquidity zone and reached the weekly supply level, targeting the 80 mark.
The sellers defended the zone and forced price down to the top of the Ascending Channel. Price bounced from 79.40 (which is the top of the ascending channel and also a Fibonacci support area). First move (Buy) completed. Buyers have pushed price backed into the liquidity zone and with good news coming from Canada (CPI was 1.10%, better than expected).
Will the Buyers break the 80 mark or will the Sellers win and delay the breakout?
The sellers defended the zone and forced price down to the top of the Ascending Channel. Price bounced from 79.40 (which is the top of the ascending channel and also a Fibonacci support area). First move (Buy) completed. Buyers have pushed price backed into the liquidity zone and with good news coming from Canada (CPI was 1.10%, better than expected).
Will the Buyers break the 80 mark or will the Sellers win and delay the breakout?
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