USD/CAD: 55 Moving Average acting as support
There's a bullish 'Hammer', which has been confirmed by the following 'Three Methods' pattern. In this case...
CAD/JPY reversed from long-term support level 81.00
- CAD/JPY reversed from long-term support level 81.00
- Next buy target 83.40
CAD/JPY recently reversed up from the powerful, long-term support level 81.00 (which has been steadily reversing the pair from last April and which was set as the sell target in our earlier forecast for this currency pair). The upward reversal from the support level started the active minor corrective wave (iv). CAD/JPY is expected to rise further toward the next buy target at the next resistance level 83.40 (top of wave (ii)).
Dmitry Chernovolov
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