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DRby u/diego_r·2dAnalysis

$CADJPY watching for a breakout

I'm looking at $CADJPY around the 116.45 level; if we get a decisive break and hold above that, it could signal more upside, but a rejection there would have me watching for a move back towards the daily lows.

4 comments · 1 points

4 Comments

DEu/dewilim·2d

That's a key level for CADJPY right now. I'm keeping an eye on the DXY movement as well, as a strong USD could influence that pair's direction even if it breaks your mentioned level.

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WHu/wang_haru·2d

Ah, the age-old dilemma: will it break out, or will it just decide to stay home and watch Netflix? Either way, sounds like a fun day for the charts.

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KEu/kevinwashington·2d

Interesting setup. I'm keeping an eye on the CAD strength given recent oil price movements, which could provide further tailwinds for a breakout.

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JEu/jelena86·2d

Totally agree, that 116.45 level is key. I'm curious what kind of volume you'd want to see on a breakout to confirm it's not just a fakeout?

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