The CADJPY pair faced strong positive pressures recently by stochastic reach to the overbought areas, to notice forming strong bullish wave and surpass the bearish channel’s resistance at 77.72.
The continuous fluctuation above the breached resistance confirms the preparation to build strong bullish trades to surpass the moving average 55 at 78.60, to target 79.25 initially, followed by reaching 79.90 in the medium term period.
The expected trading range for today is between 78.00 and 79.25
The expected trend for today: Bullish