CADJPY on a major reversal zone by ThinkingAntsOk
Use this as a guide to develop your view of the price.
Main items we can see on the Weekly chart
a) The price is on a major Support Zone
b) If we look into the past we can see the same situation, It took the price 20 weeks to start the new bullish movement
c) The current correction is about 8 candlesticks right now, and we should develop our reversal scenario on a Lower timeframe such as 4HS
d) The bullish Target we have is the Higher trendline of the descending channel
Main items we can see on the Weekly chart
a) The price is on a major Support Zone
b) If we look into the past we can see the same situation, It took the price 20 weeks to start the new bullish movement
c) The current correction is about 8 candlesticks right now, and we should develop our reversal scenario on a Lower timeframe such as 4HS
d) The bullish Target we have is the Higher trendline of the descending channel