CAD/JPY Plausible price action

1 thg 4, 2018

The pair is into a trend reversal condition or a correction in which in follows a minor trend line. There is not only a formed flag but also the price just touches the supporting line. The pair will most probably reach the .38% of the Fibonacci Retrace and its further move should be towards the .50% which will either give a massive strength of the market or bring the downtrend back ( I do not believe in the 2nd scenario ). What is more, the EMAs are about to cross and the RSI is bullish. The risk/reward ratio is 1 to 2.52 which is quite amazing, though.
*Disclaimer: this is for educational purposes only*