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CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 107.50, 108.10, 108.50

Key Support Levels: 106.35, 105.93, 104.65

Daily Chart:

The price on the higher time frame has been showing a bullish trend for quite some time and recently it did a pullback. The pair bounce back from the support level of 101.88 and has sustained above that level which indicates trend continuation.

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 has broken a consolidation zone of 104.64 and 105.93 after ranging for some time. It has now also broken and retested a minor level of 106.35 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 106.80

TP 1 @ 107.41

TP 2 @ 108.33

Stop Loss @ 106.19

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

6 comments

  1. Ok thx.. What was exactly the enty price?

  2. bad signal. 2 losses with the sl of 106,15

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