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31.03.2023 07:00 PM
CAD/JPY: further growth still possible

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CAD/JPY Temporary Drop?

The CAD/JPY pair dropped a little in the short term but this could be only temporary. The price could resume its growth as long as it stays above the uptrend line. It's trading at 98.18 at the time of writing.

Technically, the uptrend line stands as a downside obstacle, while the 98.66 higher high represents an upside obstacle.

CAD/JPY Trading Conclusion!

Staying above the uptrend line and jumping above 98.66 activates further growth. Testing and retesting the uptrend line could bring new buying opportunities.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
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