CAD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 87.37, 87.80, 88.08
Key Support Levels: 86.73, 86.10, 85.10
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
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.
Buy Market Order @ 86.85
TP 1 @ 87.37
TP 2 @ 87.80
Stop Loss @ 86.62
Trade Safely 🙂