CAD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 101.98, 102.63, 103.52
Key Support Levels: 100.71, 100.15, 99.33
The price on the higher time frame has been in an uptrend for some time and recently it broke a resistance level of 99.18 with good momentum. There was an attempt to break this level but the price was rejected and the upper trendline is broken which indicates a bullish bias.
CAD/JPY Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. The price was trading between a range of 99.33 and 100.15 and then the upper range was broken. The pair has sustained above that and retested minor support of 100.71 before continuing the momentum.
Buy Stop Order @ 101.28
TP 1 @ 101.92
TP 2 @ 102.56
Stop Loss @ 100.64
Trade Safely 🙂