The chart above is Monthly Time Frame CADjpy chart. The trend is up and will continue for a very long time . Why?. Whenever you see a hammer along the trend followed by a bullish candle, 80% of the time the trend will continue. Again you will see that the channels are well respected . Therefore the probability is that the price will continue North having bounced back from the channel with an hammer followed by bullish piecing candle .
So technically the price will reach 108.30 which is about 800 pips. Don't ask me when it will get there because i don't know. And you may not know either.
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