CAD/JPY Bullish Analysis: Targeting Key Untested Levels
Bullish Outlook Supported by Trendline, Support, and Resistance Levels
The CAD/JPY pair has shown a strong bullish pattern. The price has touched the trendline for the third time, confirming its validity. Additionally, it has broken above the yellow resistance level and is currently retesting it, signaling a continuation of the upward momentum.
From a daily structural perspective, there are untested levels at 111.448 and 113.154 that the market is likely to revisit in the coming sessions.
Key Takeaways:
Trendline Validation: The price has respected the trendline for the third time, reinforcing its significance.
Retest in Progress: The yellow resistance level, now acting as support, is being retested for confirmation.
Target Levels: The market is expected to move toward the untested zones of 111.448 and 113.154.
Risk Management Tips:
Always apply proper risk management strategies.
Risk no more than 1% of your total portfolio on a single trade.
Ensure every trade is accompanied by a stop-loss to mitigate potential losses.
Disclaimer: This analysis is for educational purposes only. Make informed trading decisions and trade responsibly.
#BTCUSD #CADJPY #EURUSD #GBPUSD
The CAD/JPY pair has shown a strong bullish pattern. The price has touched the trendline for the third time, confirming its validity. Additionally, it has broken above the yellow resistance level and is currently retesting it, signaling a continuation of the upward momentum.
From a daily structural perspective, there are untested levels at 111.448 and 113.154 that the market is likely to revisit in the coming sessions.
Key Takeaways:
Trendline Validation: The price has respected the trendline for the third time, reinforcing its significance.
Retest in Progress: The yellow resistance level, now acting as support, is being retested for confirmation.
Target Levels: The market is expected to move toward the untested zones of 111.448 and 113.154.
Risk Management Tips:
Always apply proper risk management strategies.
Risk no more than 1% of your total portfolio on a single trade.
Ensure every trade is accompanied by a stop-loss to mitigate potential losses.
Disclaimer: This analysis is for educational purposes only. Make informed trading decisions and trade responsibly.
#BTCUSD #CADJPY #EURUSD #GBPUSD
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