CAD/JPY formed a double bottom near 75.50 support level. Following a period of high volatility, it started to move higher. The pair broke above the descending
channel and 200-Moving Average and seems to be ready to move higher.
Consider buying CAD/JPY on small corrections down to the target
of 161.8% Fibs (82.60) applied to the last wave down. Suggested stop loss is
78.40.
Support: 75.50
Resistance: 79.60, 82.60
The material has been provided by InstaForex Company – www.instaforex.com
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