CAD/JPY Potential Upward Movement

CAD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 106.605, 106.853, 107.423

Key Support Levels: 105.812, 105.569, 104.818 

Daily Chart:

The price on the higher time frame has recently been in an uptrend. It tested a support level of 101.662 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 key area recently to shift the short-term trend to bullish. As of now the pair has broken and retested a minor level of 105.569 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 106.083

TP @ 106.540

Stop Loss @ 105.626

Trade Safely 🙂

This trading signal is not financial advice, it is only education, and our opinion. Any trade you take is your decision. Trade safely.

Read full disclaimer at: https://forexrobotnation.com/disclaimer/