CADJPY: The Bulls has taken over!

After gaping down on Mon opening, price resume its Bearish bias from previous week and close at the low. But Bulls have other ideas. On Tue, Bulls took over and reverse all the losses on Mon. That's a first sign that Bears is in trouble. It continue its assault on Mon low but was rejected and Bulls took over on Fri to close at the high which is also the high of the week. The volume seen last week was the highest we have seen since Feb 16( a sign of selling climax). And price closed above the value area of the week. With all this evidence, I am convinced that the tide has turn and the Bulls are fully in control. I will be looking to buy the pull back to target first the previous week high.

DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.