Buy CAD/JPY | Nov 22, 2019

Updated: Nov 27, 2019

About CAD: We remain bullish in CAD as we wrote in previous analysis, CAD may gain up to some extent at least for correction.

CAD gained significantly after BOC's Poloz spoke yesterday and it held the gain till closing of the day.

About JPY: JPY has been losing since China Vice Premier Liu He spoke.

Technical analysis at CAD/JPY:

CAD/JPY already completed almost all downside targets shown in previous analysis, such as ABCD100.0, FIB61.8 of whole swing up & 3 drive completion point. It makes a ground for bullish reversal/retracement.

Besides this technical factor, we got a bullish hammer on D1/daily time-frame. It can go up to FIB50.0 of recent whole move down, but we have just set our TP = SL.


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