The currency pair CAD/JPY moves from the last week in the channel trend. The last summit was set up around the resistance at 83.50.

Yesterday, the price reached the lower limit of the channel then could notice a strong reaction demand that pulled prices up, and this sentiment continued until the end of the session. Today we are witnessing test the upper limit of the channel, which has so far failed to break and there also is visible now supply.

So if the price will remain to trend in the channel, we can expect that the closing will take place today below its upper limit. If, however, it could break and the closure of the 30-minutes candle were much higher, than the current maximums it seems that the session will end at levels even higher.0225-CADJPY


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