The CAD/JPY pair on the M30 timeframe presents a potential buying opportunity due to a well-defined bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours.
Buy Entry: Consider entering a long position around the current price of 111.19, positioned close to the channel support. This offers an entry point near a potential continuation of the upward move.
Target Levels: Initial bullish targets lie at the resistance levels of 111.60 and 111.84, marking previous resistance zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order below the support line of the channel at 110.90. This helps limit potential losses if the price reverses and breaks back down.
Thank you
Buy Entry: Consider entering a long position around the current price of 111.19, positioned close to the channel support. This offers an entry point near a potential continuation of the upward move.
Target Levels: Initial bullish targets lie at the resistance levels of 111.60 and 111.84, marking previous resistance zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order below the support line of the channel at 110.90. This helps limit potential losses if the price reverses and breaks back down.
Thank you
Trade active
JPY weakens: JPY GDP news comes in negative, it could signal a weakening Japanese economy. This could lead to investors selling JPY and buying other currencies.Trade closed: stop reached
JPY - GDP Comes in Negative only⚠️, but JPY Currency looks Strong now andPrice breaks the Channel Pattern in EUR/JPY and CAD/JPY.
👉👉 Join My Telegram Channel :
✳️ Forex Technical Charts : telegram.me/kabhifx
✳️ Crypto Technical Charts : t.me/Kabhi_Crypto
📞📞Telegram me @t.me/kabhidhan
✳️ Forex Technical Charts : telegram.me/kabhifx
✳️ Crypto Technical Charts : t.me/Kabhi_Crypto
📞📞Telegram me @t.me/kabhidhan
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.
👉👉 Join My Telegram Channel :
✳️ Forex Technical Charts : telegram.me/kabhifx
✳️ Crypto Technical Charts : t.me/Kabhi_Crypto
📞📞Telegram me @t.me/kabhidhan
✳️ Forex Technical Charts : telegram.me/kabhifx
✳️ Crypto Technical Charts : t.me/Kabhi_Crypto
📞📞Telegram me @t.me/kabhidhan
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.