POSSIBLE LONG SETUP ON THIS PAIR.

CADJPY DAILY

MARKET IS BULLISH, 21 ABOVE THE 55. PRICE BOUNCED FROM MPP SUPPORT WHICH WAS A ROLE REVERSAL AREA. MPP PIVOT TARGET IS MR2. STOCHASTICS IS HEADING NORTH. IMMEDIATE RESISTANCE IDENTIFIED AT MM3 WITH FURTHER RESISTANCE AT MR1 AND MM4.

CADJPY H4

MARKET IS BEARISH, 55 ABOVE THE 21. PRICE IS BULLISH AND IS CURRENTLY AT WR1 RESISTANCE. SUPPORT IDENTIFIED AT WPP. STOCHASTICS IS OVERBOUGHT. A PULL BACK TO SUPPORT COULD PROVIDE ANOTHER LONG ENTRY.

CADJPY H1

MARKET IS BULLISH, 21 ABOVE THE 55. PRICE IS BULLISH, CURRENTLY AT DM3 RESISTANCE WHICH COINCIDES WITH WR1. SUPPORT IDENTIFIED AT DPP WHICH IS ALSO A 38.2 FIB. AFTER BREAKING THROUGH THE RANGE TO THE UPSIDE AND FINDING RESISTANCE, BULLS WILL EXPECT PRICE TO RETRACE TO SUPPORT FOR ANOTHER LONG OPPORTUNITY.

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