CAD/JPY T-89 Pattern Hints More Bullish Price Action

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Published: Jan 30, 2019, 10:52 GMT+00:00

Hi traders, The CAD/JPY has formed a T-89 pattern at W L3/ D H3 support so we might see a further upside continuation. T-89 is my proprietary pattern that

CAD/JPY T-89 Pattern Hints More Bullish Price Action

Hi traders,

The CAD/JPY has formed a T-89 pattern at W L3/ D H3 support so we might see a further upside continuation. T-89 is my proprietary pattern that marks the rejection off the important EMA.

POC zone 82.45-55 might see a bounce for the CAD/JPY towards 82.66 that is the first resistance. However, a close above will initiate a new wave of buyers and possible short sellers will cover providing bulls with additional momentum. Higher timeframes are also suggesting continuation to the upside. Next targets are 82.75 and 82.90. Ideally the pair should stay above 82.20 for the bulls to remain in control.