CAD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 87.61, 88.27, 89.00
Key Support Levels: 86.90, 86.62, 86.09
The price on the higher time frame was in a clear uptrend since it is trading inside a bullish channel formation. Recently, the price succeeded to post a lower correction to the lower end of the channel around the 86.62 USD mark. This move could lead to a move upward to the higher end of this channel.
CAD/JPY Medium-Term Trend: Bullish
On the 4-hr time frame, the price was trading inside a bearish channel before managing to break to the upside. A correction might be seen before the move upward toward the 87.61 USD level.
Buy Limit Order @ 86.95
TP 1 @ 87.60
TP 2 @ 88.27
Stop Loss @ 86.74
Trade Safely 🙂