CAD/JPY Trading Analysis (13/01/2025)
The trend is ascending. The currency pair is trading in the range between 365 and 135 ЕМА on the H1 timeframe. The downward wave structures are truncated. There is a bullish divergence on the Awesome Oscillator, and moving averages of the Stochastic Oscillator signal oversold condition.
Trading idea:
- Buy at the beginning of the formation of the upward wave structure, when wave A breaks the sloping channel of the downward truncated structure.
- Stop-loss at 108.980.
- Price targets at 109.550 and 110.170.
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