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CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 92.25, 92.73, 93.05

Key Support Levels: 91.63, 91.18, 90.76

Daily Time-frame:

The price on the higher time frame has seen a bullish run and currently, the price looks to continue the trend as we see good momentum. Recently, the chart broke the resistance zone of 91.62 and looks to be sustained above the zone. We expect the run to continue for the upcoming days.

CAD/JPY Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, we have seen that the pair was trading between a zone of 91.62 and 90.39. Currently, the price picked up momentum and broke the zone while forming a higher-high, higher-low pattern. The previous resistance zone should now work as a support zone.

Signal Idea:

Buy Stop Order @ 91.96

TP 1 @ 92.66

TP 2 @ 93.05

Stop Loss @ 91.62

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.

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