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15.01.202112:06 Forex Analysis & Reviews: Daily Video Analysis: CADJPY is facing bullish pressure, potential for a bounce!

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Today we take a look at CADJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. CADJPY is facing bullish pressure, where we could see a potential bounce from our buy entry level towards our take profit level, which is in line with our horizontal swing high resistance. It is worth noting that the Stochastic indicator is also approaching the support level, which shows possible bullish momentum in line with our bullish bias.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2021
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