The CAD/JPY has formed a confluence at support. 82.55-65 could show up now moment buyers for the pair and spike the price up.
Bullish Bounce straight from the POC zone is targeting 83.00 and 83.20. However, in order for that to happen bulls need so bounce from the POC zone, with an hourly close above 82.70. That will point out fresh bullish momentum in the market. If we see a drop, then the price needs to stay above 82.30 else the pair will be back into a neutral territory. Watch for a possible bounce and or continuation above 82.70 if you are bullish.
The analysis has been done with the CAMMACD.MTF template.
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