The CADJPY pair has shown a three day price consolidation after the last two weeks of rally in bearish breakout and a pullback of bullish momentum.The close below and the retest of the 34EMA might trigger a bearish momentum up to the 88.900 level. However the breakout above the trend line and the 3EMA,8EMA and the 34EMA might trigger a bullish momentum up to the 91.000 level.
The CADJPY pair is a good pair that traders should keep an eye on. The squeezing together of the Exponential Moving Averages and the consolidation witnessed on the pair is aclear indication that a new momentum is about to be experienced
The analysis below clearly explains the"Lonnie"Canadian Dollar and the Japanese Yen.
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