"Market Insight: CAD/JPY Approaching a Major Turning Point"
CAD/JPY Technical Analysis
Resistance Holding at 105.85
The price has reached a key resistance zone between 105.28 - 105.85, where previous rejections have occurred. A strong bearish reaction from this area may indicate a potential reversal.
Support Levels to Watch
The nearest support zone is around 103.65, followed by a stronger support at 102.21. If the price fails to sustain above resistance, a pullback towards these levels could be expected.
Moving Averages & Trend Outlook
- The price is testing the 200-period moving average, which could act as dynamic resistance.
- The 50-period moving average is currently supporting the bullish momentum.
Trading Scenarios
- Bullish Breakout: A breakout above 105.85 may trigger a rally towards 107.00.
- Bearish Rejection: A rejection at resistance could lead to a downside move toward 103.65 or lower.
📌 Conclusion: Traders should monitor price action at the resistance zone for confirmation before entering positions. 🚀
If you enjoy, press the like button.
Resistance Holding at 105.85
The price has reached a key resistance zone between 105.28 - 105.85, where previous rejections have occurred. A strong bearish reaction from this area may indicate a potential reversal.
Support Levels to Watch
The nearest support zone is around 103.65, followed by a stronger support at 102.21. If the price fails to sustain above resistance, a pullback towards these levels could be expected.
Moving Averages & Trend Outlook
- The price is testing the 200-period moving average, which could act as dynamic resistance.
- The 50-period moving average is currently supporting the bullish momentum.
Trading Scenarios
- Bullish Breakout: A breakout above 105.85 may trigger a rally towards 107.00.
- Bearish Rejection: A rejection at resistance could lead to a downside move toward 103.65 or lower.
📌 Conclusion: Traders should monitor price action at the resistance zone for confirmation before entering positions. 🚀
If you enjoy, press the like button.
Trade active
Note
Note
Once again i took a trade from 105.700 , this is a resistance level ,100 pips+ achieved.
Trade closed: target reached
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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.