Breaking News

CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 87.37, 87.80, 88.08

Key Support Levels: 86.73, 86.10, 85.10

Daily Chart:

The asset on the daily time frame is in a clear upward movement by posting higher highs and lows. Recently, the price posted a correction by depreciating 2.27% in value. Our expectation now is a move upward from the current levels.

CAD/JPY Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading inside a bullish channel where the price posted a slight correction to an area of confluence between the 61.80% Fibonacci retracement and a strong support. This could lead to a move upward to the 87.37 USD mark.

Signal Idea:

Buy Market Order @ 86.85

TP 1 @ 87.37

TP 2 @ 87.80

Stop Loss @ 86.62

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!