- February 22, 2021
- Posted by: cabana-admin
- Category: Forex Broker
General Overview: CAD/JPY bulls in play from support and target a daily extension. There are bullish prospects from an hourly perspective and creating buying signals in the chart. The pairs create higher highs in the market. Bulls stepping in at a discount within a long-term bullish trajectory, the cross is indeed headed in a northerly trajectory, albeit correcting. However, it is expected to continue towards a measured target of 83.87 in the market. The following illustrates the bullish bias still forms a longer-term perspective. The bulls are showing their showing strong sentiments towards the buy-side in the market. The pair keeps on rising on its prior basis and set towards the buy-side in the market. The market keeps on rising towards the north side in the market.
Technical Analysis: From the technical point of view we can say that market showing full bullish prospects in the market and create strong buying momentum in the market. On the daily chart, we can see the overview that the market creates the bullish pair in the market. The market creates bullish volatility in the market and set towards the buy-side in the market. On the 4 hourly charts, we can say that market creates a bullish pair in the market. Pair breaches the minor Ema lines and travels towards the upside in the market. The buyers are creating upward swings and about to breaking the high of the 84.00 in the market, after breaking the support line 83.13 level markets create a strong bullishness in the market. Major indicators are also supporting the price patterns as RSI also creates the buying above the 50 levels and MACD also creates the buying signals in the chart. The resistance of the level is 84.33 followed by 84.77 and support will be 83.33 followed by 82.77.
Trade Idea: Our traders are advised to buy at level 83.82 and the target will be 84.54 and 84.94 and the stop loss will be 83.00.
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