CAD/JPY Long-Term Trend: Bearish
Key Resistance Levels: 95.79, 96.53, 97.11
Key Support Levels: 94.75, 94.12, 93.65
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
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.
Sell Stop Order @ 95.37
TP @ 94.81
Stop Loss @ 95.93
Trade Safely 🙂