CADJPY testing key resistance, what next?

asked by u/aziz_sami · 12d · 3 answers

Watching $CADJPY closely. We're right up against that 116.00 level again, which has been a strong ceiling. If we punch through and hold above it on a daily close, the path opens up for a significant move higher, but rejection here, especially if we see a quick move back towards 115.50, could indicate a double top is forming. I'm keeping a very tight stop if I decide to go long above 116.00.

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Top answers

  • u/suthida_i· 1 pts· 12d

    ตอนนี้ CADJPY เหมือนจะรอข่าวเรื่อง BoC เลยนะ ถ้าดอกเบี้ยยังทรงตัวอาจจะร่วงลงมาได้ง่ายๆ

  • u/takin2539· 1 pts· 12d

    Good read on CADJPY. I'm also watching that 116.00 level. Do you think the recent oil price strength might be enough to give CAD the push it needs to break through, or are global risk factors more dominant here?

  • u/bsantoso· 1 pts· 12d

    Good read on CADJPY. Agree that 116.00 is the key level. Are you looking at any specific volume metrics around that price for confirmation, or primarily just price action?

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