CAD/JPY – The bulls creates strong buy trend in the market.

General overview: the pair is showing the impulsive in the market as the market creates the successively higher highs in the market. The buyers are in strong favor of the market and buyers sit towards the positional buy side in the market. The long side rally is yet to be formed in the market; the buy side is yet to be favored by the market. The long side trend is too formed by the market as the buyers are supporting the bullish zone in the market. The bulls are getting pressure from the downside and still rising upside and giving profit to the buyers. The strong bullish momentum formed in the chart as the market gives more expectation to rise upside in the market. The major push bulls getting from downside as strong buy trend formed in the chart
Technical Analysis: From the technical point of view we can say that market makes the upside gain in the market. On the hourly chart market makes the strong upside gain the level is 89.14 and more rise is too expected in the market. The higher high formed as buyers can do buy from dips and make their call booked from intraday point of view. On the 4 hourly charts the after breakout level market get major force to raise and make its place towards north direction in the market. The major and minor EMA, SMA lines are giving support to the level and create strong buy side in the market. The golden crossover is too formed in the market and giving more strong confirmation for the buy zone in the market. The target will be of 90.00 level can be for the traders as there is no breakout level can be seen in the market . The odds are in favor of the bulls. The support level will be 88.50 followed by 88.00 and resistance is 89.70 followed by 90.50. The RSI will move above 50 level as well MACD also makes bullish crossover in the market which shows buy signals in the market.
Trade idea : Our traders will make their position towards the buy side at level 89.15 target will be 90.00 and 90.40 and stop loss will be 88.30.

 



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