mql5

CAD/JPY: bearish reversal. Daily price was located on the bullish ranging markety condition since Devember 2016: the price was ranging within narrow support/resistance levels to be moving near-and-above Ichimoku cloud and inside Ichimoku cloud on the border between the primary bearish and the primary bullish trend on the chart. The price broke Ichimoku cloud to below at the end of the Februarythis year to be reversed to the primary bearish market condition with 84.67/84.17 support levels as the nearest daily bearish targets.

• if the price breaks 86.81 resistance so the reversas from the primary bearish to the primary bullish market condition will be started;
• if the price breaks 84.67 support level on close daily bar so the primary bearish trend will be resumed with 84.17 target to re-enter;
• if not so the price will be ranging within the levels.

Resistance	Support
86.81	84.67
N/A	84.17