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CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 107.825, 108.156, 108.503

Key Support Levels: 107.453, 106.574, 105.840

4-Hour Chart:

The price on the higher time frame has been in an uptrend recently after it tested a support level of 105.840 and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

CAD/JPY Medium-Term Trend: Bullish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 105.840 and 106.574 and has sustained above that. As of now the pair has broken and retested a minor level of 107.453 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 107.589

TP @ 107.793

Stop Loss @ 107.385

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.

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