Weekly Analysis CADJPY 7TH - 11TH JAN 2019

Analysis

This pair has been trending sideways since late 2016. The market price is at the bottom of the sideways channel and finally hitting the monthly and weekly support. The support area is breached by a huge bear shadow informing us that this is a false break of the support area.

A huge bullish comeback at the support area is expected and the price rallies on Friday.

Will bullish move be sustained?

 Of course we let the market to advise further as we continue speculating this currency pair

Summary: A huge bullish comeback at the support zone could indicate a change in investors’ sentiment. We will monitor this pair closely and we will let the price guide us on the direction of this pair in the coming days and weeks.