Today’s analysis – CADJPY – trading towards a key support where a bounce is probable,
Points to consider, - Price Action Impulsive - Daily S/R Support (.618 Fibonacci Confluence) - Swing High Objective
CADJPY’s immediate price action is trading towards a key trade location that has technical confluence with the .618 Fibonacci and the Daily S/R, this allows for a bullish bias.
The swing high is the current objective, exceeding this level increases the probability of a trend continuation.
Overall, in my opinion, CADJPY is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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And remember,
“Don't blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah