CADJPY Bullish Target 200SMA on Daily

⭐️Key Takeaways⭐️

✔️ Canadian GDP +4.5% / Japan GDP -0.6%
✔️ Correction with Nikkei 225 - break below 200SMA

⭐️Technical Analysis⭐️

Last Friday we had a nice boost with the Loonie after Canada reported better than expected GDP at +4.5%. Just recently on the 1hour we had a little fake-out below the 200SMA as price action quickly rebounded. Now waiting for some higher highs along with momentum to start the second bullish continuation wave to the upside. Target is limited to tag the 200SMA on the daily timeframe.

Regards,
Michael Harding

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Information and opinions contained with this video are for educational purposes only and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors.