CADJPY: Bullish Pinbar candle could push CADJPY higher againCADJPY: Bullish Pinbar candle could push CADJPY higher again
Technical Analysis:
Price created a "Bullish Pinbar Canle" on a daily time frame thus indication for a lose in
the bearish momentum.
On the 60 minute chart, we can see that CADJPY is forming an "Inverse Head & Shoulder" pattern.
A move above the pattern should help CADJPY rise further to 103 early and if bullish volume could push further to 115.00.
However, a good part of this movement is also related to the BOJ's rate decision.
Chances are they won't raise rates again, despite speculation that everyone is talking about a possible rate hike.
You may find more details in the chart!
Thank you and Good Luck!
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