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CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 90.608, 90.868, 91.000.

Key Support Levels: 90.310, 90.054, 90.000.

1-Hr Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after posting a higher low which represents the double bottom formation. The market is moving to the upside and most probably will continue in the coming hours.

CAD/JPY Medium-Term Trend: Bullish

10-Mins Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 90.316

Target Profit 1 @ 90.608

Target Profit 2 @ 90.868

Stop Loss @ 90.023

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.

One comment

  1. My dude Joe with another win! thank you man for such great analysis! I’m working out my schedule to capture more of your signals I live in Canada EST. I’ve been losing so much on my own, this is turning things around! cheers bro. Thank you too Patrick! Cheers and God bless.

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