CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 105.42, 106.12, 106.89

Key Support Levels: 104.33, 103.79, 103.25

Daily Chart:

The price on the higher time frame has been in an uptrend for the last few months and it has formed a higher high pattern. The pair did a pullback and found support at the 99.27 level and bounced back from there. As of now the pair has tested another support level of 103.25 and continuing the trend.

CAD/JPY Medium-Term Trend: Bullish

15-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has been in an uptrend and recently it consolidated for some time between a range of 104.33 and 104.65 and then the upper range has been broken and retested before continuing the momentum.

Signal Idea:

Buy Stop Order @ 104.82

TP 1 @ 105.36

TP 2 @ 106.44

Stop Loss @ 104.28

Trade Safely 🙂