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. Price is facing bullish pressure as it continues to hold above the ascending trendline and moving average supports, and MACD is also holding above the 0 line. We could see a bounce at Buy Entry level, in line with 38.2% Fibonacci retracement, moving average support and ascending trendline support, and further upside towards Take Profit levels, in line with 78.6% and 100% Fibonacci retracement levels.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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