Reason for Selling CAD/JPY : After US Election & Japan GDP rate cut from 0.5 to 0.3% makes the JPY more weaker.
On Daily chart, The market moving up straight forward from the support zone, it shows that “buyers pressure is more when comparing to sellers”.
Now, CAD/JPY reaches the top level.
As per our Technical Analysis, we could expect some downward move from this top level. Finally, the market went down and reaches our target successfully.
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