CADJPY: Cyclical Long opportunity.

CADJPY has been on a strong 1D Channel Up (RSI = 53.040, MACD = 0.280, Highs/Lows = 0.0000) since August, breaking above the 1W MA50 (blue line) but was eventually rejected near the 1W MA200 (orange line).

Looking back on the 1W chart this is a cycle that is repeated since 2006, with Death and Golden Cross formation marking it. At the moment the price is preparing an aggressive rise into a new consolidation zone (green Rectangle). This will most likely be marked by a Golden Cross. Our long term Target Zone is 89.000 - 91.500.





** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.