FX.co ★ raynor.cornelius | CAD/JPY

CAD/JPY

Sunday technical analysis of the pair on the 4-hour chart. Here the price reacted to the TF high at the 117.34 level and corrected downward from there. It only had enough strength to reach the middle of the trend. From the 113.48 level the price is moving back up. The price is getting ready to work through the extended blue zone; it may work through it completely and then return upward for a retest of the high that is now being formed at the 117.34 level, or slightly higher.