CAD/JPY: Our expectations: Probable new upward movement after the break above the diagonal resistance and the double bottom before that, with SL 81.77.
Alternative scenario: Pull back below 81.77 will dismiss the positive formation, and this is the time when the longs must be closed.
Comments: Correction of the price to FiBo 61.8%
Three unsuccessful breaks below 80.50, and the third bottom is higher that the previous - bullish signal.
Break of the diagonal resistance after the tree bottoms.
Break of inside candle - bullish signal
CCI(50) over 0 and the price is over EMA 50
For the more conservative traders we can wait for the price to reach 82.70.
Stefan D. Angelov - Head of Stocks Trading
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