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CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 89.036, 90.161, 90.500.

Key Support Levels: 87.982, 87.189, 87.000.

Daily Chart:

The price on the higher time frame managed to break the downward trend line to the upside after finding support around the 85.467 JPY mark. The market posted a hammer bar which led to a breakout of the daily resistance around the 87.982 JPY and this could lead to further movement to the upside.

CAD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is traded above the daily resistance where big bullish bars has been posted signaling that the buyers are in control of the market. We have noticed a small range around this area where a big move to the upside could be seen most probably.

Signal Idea:

Buy Limit Order @ 88.029

TP 1 @ 89.008

TP 2 @ 90.161

Stop Loss @ 87.740

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

13 comments

  1. Hi Patrick , could you tell me where I can find crypto trading signals that give me the signal in terms of the buy zone take profits 1, 2+ 3 etc and the stop loss figures to enter into Binance and other trading platforms as the Telegram groups I’ve joined so far give no or very little info in this format?

    Many thanks and keep up the good work!!

  2. A good one again! 115 pips in the bank!
    Thanks Patrick!

  3. Hi! New here! How long should such a limit order be opened for? And what is the average duration in which the trades last? (just came across your yt channel and its really promising! I’m becoming a fan 🙂 )

  4. Hi Patrick, there are no trading options for CAD/JPY in Binance – Why!?

  5. Uyanwanne Stanley

    How can I get your pivot point indicator?

  6. So can anyone help a noobie trader what would I do to use these signals, thanks Ben

  7. Well,, your RR is absolutely great. Using % of capital is good idea. With good RR i feel comfort even using marti. Ive been watching your public channel. And check for the prize. Im really thankful if you make multiple choice of payment. Like 60$ for 3 month, 100$ for 6 month and 300$ for lifetime

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