CADJPY – A long Term Buy?

Canadian Dollar/Japanese Yen FX:CADJPY


Following the recent employment change report on CAD which came out positive indicating strength on the currency, opportunity for the bulls to come in unfolds. However, we should expect some reaction @ 78.936 level.

If price respect that level, and fails to break through, CADJPY may become bearish . A break through the Previous Weeks High (PWH) @ 79.648 will give us a confirmation of a long-term buy targeting the monthly resistance @ 81.742.

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