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If we look at the 4-hour chart of the CAD/JPY cross currency pair, there appears to be a deviation between the price movement of the currency pair and the Awesome indicator, coupled with its price movement moving above the WMA (30 Shift 2), it seems that in the near future CAD/JPY has the potential to continue its strengthening even though there is the potential for a momentary correction where the Bullish Fair Value Gap level may be tested, but as long as the weakening correction does not break through and close below the 107.27 level, CAD/JPY has the potential to continue its strengthening to the 109.25 level and if momentum and volatility support it, 110.33 will be the next target.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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