As we look ahead to the future of the CAD/JPY currency pair, the outlook appears to be bullish. A combination of fundamental and technical analysis suggests that there is a high probability of a price increase in the coming weeks. With the Canadian economy continuing to recover and the Bank of Canada maintaining a hawkish stance on interest rates, the CAD is poised to gain strength. Additionally, technical indicators such as the MACD and RSI suggest that the pair is oversold and due for a reversal. Therefore, traders who are looking to capitalize on this potential opportunity may want to consider entering a long position on the CAD/JPY
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WAIT until reaching the designated selling point on the chart
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WAIT until reaching the designated selling point on the chart
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Trade active
Buyer dominance is evident with a rising price trend, and you can place a stop loss at the entry pointTrade active
Trade active
TP1 DONE ✅Trade closed: target reached
TP2 DONE
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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.