CadJpy- Break of resistance and new highs are expected

31 בינו׳ 2024

After the dip and the double tap in 104 support back in December, CadJpy started to rise again and resumed its long-term bull trend.
Now the pair is trading back to important 110 zone resistance and a break up seems imminent.
The recent dive under 109 was quickly reversed, which also adds to my bullish perspective.
In conclusion, as long as the recent low is not violated, I expect an up continuation and CadJpy could rise towards 115 in the medium term.
For shorter term traders, 112 is also a good target with 1:2 risk:reward

2 בפבר׳ 2024

הערה

After a test of support, CadJpy reversed strongly.
Next, a break of resistance should follow

8 בפבר׳ 2024

הערה

We finally have a break above resistance
112 should follow