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LOby u/larissa.oliveira·1moAnalysis

Watching CADJPY at 115.324 Support

Been keeping an eye on $CADJPY today, specifically that 115.324 level. It's the low of the day, and it's holding up for now. If it breaks convincingly, I'd expect a push lower, potentially to test the next psychological level around 115.00. The risk, for me, would be a strong bounce off this level, maybe even back towards the day's high of 115.986. Volume would be key on any move down, confirming conviction. Right now, it's just hugging that support, which often precedes a sharper move either way.

3 comments · 3 points

3 Comments

TUu/tuanrahman·1mo

That 115.324 level is soft. I'd be looking for a clean break below 115.20 before considering a push to 115.00. Too much noise around the current support.

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PUu/putratanjung·1mo

Interesting, I'm watching that level too. Do you have any specific indicators you're using to confirm the strength of that support, or are you purely looking at price action?

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NBu/nbondarenko·1mo

Good observation on CADJPY. I'm also watching that 115.324 level closely, it's held firm a few times this morning. Do you see any specific candle patterns forming at that support, or mostly just wicks testing it?

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