Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (81.3). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 81.97
TP2= @ 82.54
TP3= @ 83.32
SL= @ 80.80
. There is a possibility of temporary retracement to suggested support line (81.3). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 81.97
TP2= @ 82.54
TP3= @ 83.32
SL= @ 80.80