CAD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 107.23, 107.67, 107.98
Key Support Levels: 106.40, 105.77, 105.09
The price on the higher time frame has been in an uptrend for some time and recently it did a pullback. The pair has found support at the 103.25 level and bounced back after testing this area. It has broken the resistance level of 106.03 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 has broken a resistance level of 105.77 after consolidating for some time. It has now also broken and retested a minor level of 106.40 before continuing the momentum.
Buy Limit Order @ 106.74
TP 1 @ 107.14
TP 2 @ 107.94
Stop Loss @ 106.34
Trade Safely 🙂