Hello Traders
As we can see from our mulit timeframe analysis on CAD/JPY we can see a protentail long on this pair
As always traders we always work down from the Monthly - Weekly - Daily were possible
Weekly Timeframe
As you can see from a weekly view price has broken some key resistance now turned support and we can expect a further push to the upside.
Using our fib retracement tool we can also see that price rejected the 0.618 and 0.5 levels- we can also see that current support is right on our 0.5 level which is another great confluence for this trade.
Daily Timeframe
As we can see on the daily timeframe we can see price is currently retracing back to our support level, we will be monitor price action around this level and using the 4H timeframe to look for a possible entry on this pair to take us long to our Take profit level indicated with the black dotted line
As we can see from our mulit timeframe analysis on CAD/JPY we can see a protentail long on this pair
As always traders we always work down from the Monthly - Weekly - Daily were possible
Weekly Timeframe
As you can see from a weekly view price has broken some key resistance now turned support and we can expect a further push to the upside.
Using our fib retracement tool we can also see that price rejected the 0.618 and 0.5 levels- we can also see that current support is right on our 0.5 level which is another great confluence for this trade.
Daily Timeframe
As we can see on the daily timeframe we can see price is currently retracing back to our support level, we will be monitor price action around this level and using the 4H timeframe to look for a possible entry on this pair to take us long to our Take profit level indicated with the black dotted line