'' Major Price Rejection! Is CAD/JPY Ready For A Drop? ''
CAD/JPY Technical Analysis – 4H Chart
Key Levels & Market Structure
- Resistance Area: 104.800 - 105.486, where sellers may take control.
- Target Area: 102.723 - 102.744, a potential bearish target.
Potential Trade Setup
- Price is currently rejecting the resistance area, indicating a possible reversal.
- A strong rejection or bearish confirmation could push the price down toward the target area.
- If price breaks above resistance, it could invalidate the bearish setup and continue higher.
Market Outlook
- Bearish Scenario: Price fails to break resistance and starts declining toward 102.744.
- Bullish Scenario: A breakout above 105.486 could lead to further upside momentum.
Traders should watch for confirmations at the resistance zone before entering a trade. 📉🔥
If you enjoy, press the like button.
Key Levels & Market Structure
- Resistance Area: 104.800 - 105.486, where sellers may take control.
- Target Area: 102.723 - 102.744, a potential bearish target.
Potential Trade Setup
- Price is currently rejecting the resistance area, indicating a possible reversal.
- A strong rejection or bearish confirmation could push the price down toward the target area.
- If price breaks above resistance, it could invalidate the bearish setup and continue higher.
Market Outlook
- Bearish Scenario: Price fails to break resistance and starts declining toward 102.744.
- Bullish Scenario: A breakout above 105.486 could lead to further upside momentum.
Traders should watch for confirmations at the resistance zone before entering a trade. 📉🔥
If you enjoy, press the like button.
Trade active
Note
Trade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.