CAD/JPY: Our Expectations: Possible rising movement after a series of positive technical signals with SL: 82.83.
Alternative scenario: Eventual movement under 82.83 will reverse the outlook to short.
Commentary: Breakaway of the diagonal support, test of the breach and new rising impulse.
20 EMA above 50 EMA - positive signal.
Correction after the breakaway above 50 EMA, which shows that the bulls control the market.
Engulfing bar after the test of 20 EMA - bullish price action signal.
CCI (50) above 0, DeM above 0.7 - signals for possible long movement.
We could wait for a few pips for a better price.
Стефан Д. Ангелов - Head of Stocks Trading
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