CADJPY: EXTENDED PULLBACK FORMATION TRYING TO BREAK THE TREND.

CADJPY gathering the sellers’ attention, the one-month-old ascending trend break off failed to hold the price range in an uptrend. In a 4hr time scale, CADJPY extends its recovery pullback from the 88.707 towards the 86.900 & the 86.600 this action could easily break the one-week-old low mark. The 86.600 passthrough will decline the price range to 85.750 & the 85.450.

On the contrary, the one-week-old pullback formation may reverse the price range from the current trend this reversal action will highlight the 88.250 & the 88.500. Trading beyond the 88.500 might entertain the buyers @ 88.850, the 89.000.

Happy trading.

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