FX.co ★ CAD/JPY has prospects to reach 79.32: Analysis For June 25, 2020

The CAD/JPY pair is now moving in a consolidation range (depicted by the red rectangle). If we look at the 4-hour chart, we see that the Daily Liquidity Void (Light Blue area's) area above the Consolidation Range is going to act as a magnet area. Besides, this pair has a Hidden Divergence (Convergence) between the price with the Stochastic Oscillator. Based on this fact, the odds are that CAD/JPY will raid the nearest Liquidity Pool at the 79.32 level. If the upward momentum is strong, this pair has a chance to fill the Daily Liquidity Void Area above the current price as long as CAD/JPY does not retrace down and closes below the 78.31 level.

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