CAD/JPY Trading Analysis (04/08/2023)

04.08.2023

Market Review

The trend is ascending. The currency pair is traded in the range between 365 and 135 EMA. The downward inner wave structure is truncated. There is bullish divergence on the Awesome Oscillator. The Pivot 2 of the downward structure is breached.

Trading idea:

Buy at the breach 107.060.

Stop-loss: 106.370.

Target price levels: 108.123, 109.580.

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Author: GC

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