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CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 93.43, 94.33, 95.42

Key Support Levels: 90.96, 90.01, 89.42

Daily Time-frame:

The price on the higher time frame was trading in a range for quite some time and tried to break to the downside but the move did not sustain and the price was rejected. As of now, the price has broken the resistance level of 92 with good momentum and looks bullish.  

CAD/JPY Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price is moving in the major trend’s direction. The price has been strong and maintaining a trendline. The pair has broken a resistance level and continues the move after retesting that level.

Signal Idea:

Buy Limit Order @ 92.40

TP 1 @ 92.90

TP 2 @ 93.40

Stop Loss @ 91.91

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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