BlueberryMarkets
Long

CADJPY LONGS FROM SUPPORT

FX:CADJPY   Canadian Dollar / Japanese Yen
CADJPY has recently interacted with a key weekly support level of 85.60 with weekly 38.2 fib confluence and bounced breaking through a key trendline resistance. Technically this looks good for a long set up now we have created a higher high on the 4hr timeframe. Looking for price to retrace back into the 4hr highs around the 86. 40 zone highlighted with the rectangle box. If we see bullish price action we can look for the long opportunities here.
Band of Canada are looking to hike interest rates and typically you will see a currency increase in value in the lead up to a rate hike.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out