Is JPY staging a big recovery?
We saw CADJPY finally reverse around 111.00 after an extended run to the upside. This was then followed by a monthly shooting star candle on the monthly chart, signaling a potential reversal. Sellers stepped in and we saw a drop to 104.50.
We've since then seen a pullback into 107.00 resistance, whilst market consolidated in a potential bear flag.
Could we see JPY gain further, CADJPY drop lower and the bear flag play out, breaking 104.50 support on its way to 102.50? One for the radar.
We've since then seen a pullback into 107.00 resistance, whilst market consolidated in a potential bear flag.
Could we see JPY gain further, CADJPY drop lower and the bear flag play out, breaking 104.50 support on its way to 102.50? One for the radar.
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