CAD/JPY Technical Analysis

CAD/JPY is bullish
Retracement towards 88.6 has been completed
Historical Sellers are waiting
The price might go down

DAILY CHART CAD/JPY

Descending Trend line
The swing low
The 88.6 zone where the price could turn
Order block

The price is currently bullish. It has approached the important resistance. It was a previous breakout point where the new low has been printed out. We can still notice that the trend has been intact , but the price wants to push higher. 88.6 and the confluence of technical patterns suggest that bears haven't given up on fighting and we could see the price lower. The target for the drop is 86.11. Watch for a renewed momentum if the price stays below the 88.6 - 88.02 level.