CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 101.98, 102.63, 103.52

Key Support Levels: 100.71, 100.15, 99.33

Daily Chart:

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

1-Hour Chart:

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.

Signal Idea:

Buy Stop Order @ 101.28

TP 1 @ 101.92

TP 2 @ 102.56

Stop Loss @ 100.64

Trade Safely 🙂