CAD/JPY Price Long-Term: Bullish
Key Resistance Levels: 85.09, 86.20, 87.50
Key Support Levels: 83.75, 83.23, 82.13
On the daily time frame, the price is in an uptrend by posting higher highs and lows. The price managed to break the daily resistance @ 83.75 level, by posting a huge engulfing bullish candlestick and now re-tested the daily support by showing a correction count.
CAD/JPY Medium-Term Trend: Bullish
On the 4-hr time frame, the price was pushed to the upside by the buyers around the 61.8% Fibonacci level. It managed to break the channel formation to the upside and now it is trading around the 84.30 support.
Buy Market Order @ 84.34
TP 1 @ 85.08
TP 2 @ 86.20
Stop Loss @ 84.08
Trade Safely 🙂