CADJPY ANALYSIS
HELLO ALL,
CADJPY RECENTLY BROKE ABOVE 76.75 AREA WHERE IT WAS ACTING AS RESISTANCE WHICH HAS NOW FORMED A SUPPORT. ON THE 4HR CHART, THE PAIR RETRACED FROM ITS HH TO .618 AND CLOSED SLIGHTLY ABOVE SUPPORT OF 76.75 AREA.
THIS PAIR HAS HIT ITS MONTHLY SUPPORT AND IS CURRENTLY ROAMING AROUND IN THE WEEKLY SUPPORT AREA. THE DAILY SHOWS AN UPTREND WHERE IT MANAGED TO MAKE HL, HL AND HH BREAKING ABOVE LAST RESISTANCE.
WE WILL HAVE TO WAIT ON THIS WEEKS FUNDAMENTALS AND PRICE ACTION TO CONFIRM NEW HIGHS OR IF IT WILL GO BACK LOWER TO ITS PREVIOUS DAILY SUPPORT AT AROUND 75.80 ISH.
PLEASE GIVE A THUMBS UP IF YOU LIKE AND COMMENT YOUR IDEAS AND OPINIONS, THANK YOU!
CADJPY RECENTLY BROKE ABOVE 76.75 AREA WHERE IT WAS ACTING AS RESISTANCE WHICH HAS NOW FORMED A SUPPORT. ON THE 4HR CHART, THE PAIR RETRACED FROM ITS HH TO .618 AND CLOSED SLIGHTLY ABOVE SUPPORT OF 76.75 AREA.
THIS PAIR HAS HIT ITS MONTHLY SUPPORT AND IS CURRENTLY ROAMING AROUND IN THE WEEKLY SUPPORT AREA. THE DAILY SHOWS AN UPTREND WHERE IT MANAGED TO MAKE HL, HL AND HH BREAKING ABOVE LAST RESISTANCE.
WE WILL HAVE TO WAIT ON THIS WEEKS FUNDAMENTALS AND PRICE ACTION TO CONFIRM NEW HIGHS OR IF IT WILL GO BACK LOWER TO ITS PREVIOUS DAILY SUPPORT AT AROUND 75.80 ISH.
PLEASE GIVE A THUMBS UP IF YOU LIKE AND COMMENT YOUR IDEAS AND OPINIONS, THANK YOU!
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