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CAD/JPY Potential Downward Movement

CAD/JPY Long-Term Trend: Bearish

Key Resistance Levels: 95.79, 96.53, 97.11

Key Support Levels: 94.75, 94.12, 93.65

Daily Chart:

The price on the higher time frame was in a downtrend for some time and there was a pullback recently. It faced resistance at the 100.97 level and reversed back. The pair has broken support level of 95.93 recently which suggests trend continuation.

CAD/JPY Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It faced resistance at the 97.11 level and broke a level of 96.53 and sustained below that. Recently it has broken and retested a minor level of 95.79 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 95.37

TP @ 94.81

Stop Loss @ 95.93

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

4 comments

  1. I actually took this signal and waited for it and did hit my take profits. Thanks a lot.
    Patience is the key.

    This signal was spot on and I made $139 from it. 😄😄😄😄

    Thank you bro

  2. Sir may I know is this trade still valid?

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