CADJPY ANALYSIS
Updated
Hello traders!
Here are my thoughts on CAD/JPY.
So, CADJPY has been bullish since November, creating HH and HL. Price got through the weekly key level multiple times easily, two times it led to false breakout. Once price got above 81.000 zone and sustained its position it bounced off the key level, while breaking the daily structure. This is the trade I am taking right now, sky is the limit.
📈📉Trends:
⏳ Weekly- BULLISH
⌛️ Daily- BULLISH
🎯Confluence:
1. Strong bullish trend
2. Breaking the weekly resistance, price re-tested this level and bounced off
3. Break of daily resistance, now turned support
4. Re-test of the daily support
🟣 Purple zone - Weekly key level
🔵 Blue zone - Daily key level
Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨👩👧👦
Have a wonderful and profitable day! ❤️
- ProfitalzTrading
Here are my thoughts on CAD/JPY.
So, CADJPY has been bullish since November, creating HH and HL. Price got through the weekly key level multiple times easily, two times it led to false breakout. Once price got above 81.000 zone and sustained its position it bounced off the key level, while breaking the daily structure. This is the trade I am taking right now, sky is the limit.
📈📉Trends:
⏳ Weekly- BULLISH
⌛️ Daily- BULLISH
🎯Confluence:
1. Strong bullish trend
2. Breaking the weekly resistance, price re-tested this level and bounced off
3. Break of daily resistance, now turned support
4. Re-test of the daily support
🟣 Purple zone - Weekly key level
🔵 Blue zone - Daily key level
Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨👩👧👦
Have a wonderful and profitable day! ❤️
- ProfitalzTrading
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