Ransquawk

CAD/JPY notations especially on daily intervals, are quite readable. Swing is usually very smooth, and the trend since the beginning of June is definitely bullish. In the last 3 weeks, however, we have had a decline. In such a long time the price has fallen only slightly to lower levels. This is probably only a correction. Yesterday there was a strong demand reaction and one of the strongest candles appeared during the correction period. The place of demand response is not accidental. It was a well-respected trend line and legible support based on the previous high. So there is a chance to initiate another growth impulse. The level of the last high of the bearish correction is the level 90.45. It seems that breaking above this level should complete the correction.

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Ransquawk