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CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 92.373, 92.551, 93.000.

Key Support Levels: 92.086, 91.905, 91.774

1-Hr Time Frame:

The price on the higher time frame failed to continue its move to the downside where the price was hold above the support along a higher low showing that the buyers are about to push the price higher and reverse it.

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 @ 92.135

Target Profit 1 @ 92.373

Target Profit 2 @ 92.551

Stop Loss @ 91.896

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.

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