E XXX/JPY Pairs Are Being Controlled By Bulls!

USD/JPY and CAD/JPY both look bullish and are expecting to see more upside in the near term. On USD/JPY we can see that price made a temporary pullback from the 108.18 area, ideally sub-wave iv of 1, that can now be ending. A recovery above the 108.06 region would confirm a completed correction and sub-wave v of 1 in progress.

Both the upper base channel line and the Fibonacci ratio of 38.2 can react as support on USD/JPY.

USD/JPY, 1h

On CAD/JPY we see current intra-day sideways activity as a potential triangle in wave iv, that can once complete push price towards 83.00 region.

CAD/JPY, 1h

 

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