CAD/JPY Confluence at POC Might Show Now Moment Buyers

CAD/JPY Confluence at POC Might Show Now Moment Buyers

Hi traders,

The CAD/JPY has formed a confluence at support. 82.55-65 could show up now moment buyers for the pair and spike the price up.

Bullish Bounce straight from the POC zone is targeting 83.00 and 83.20. However, in order for that to happen bulls need so bounce from the POC zone, with an hourly close above 82.70. That will point out fresh bullish momentum in the market. If we see a drop, then the price needs to stay above 82.30 else the pair will be back into a neutral territory. Watch for a possible bounce and or continuation above 82.70 if you are bullish.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.