CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 104.982, 105.618, 106.326

Key Support Levels: 103.453, 103.124, 102.653 

Daily Chart:

The price on the higher time frame has recently been in an uptrend. It tested a support level of 102.060 and bounced back. The pair has broken a few resistance levels which suggests further 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. It broke a zone recently to shift the short term trend to bullish. As of now the pair has broken and retested a minor level of 103.453 before continuing the momentum.

Signal Idea:

Buy Limit Order @ 104.151

TP @ 104.935

Stop Loss @ 103.369

Trade Safely 🙂