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EAby u/e2e_apiowner·12dAnalysis

CADJPY 4H Structure

Watching CADJPY on the 4-hour chart. We've got a pretty clear support level forming around the 110.00-110.20 area. Had a few bounces off it already, which suggests some decent demand stepping in there. If it breaks decisively below that 110.00 mark, I'd consider that a significant invalidation of the current structure, likely seeing a move down towards 109.50 or lower. Right now, it's holding, but that level is key.

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2 Comments

TBu/tbautista·12d

Yeah, that 110.00 area on CADJPY has been interesting. I'm with you on the demand, but I'm also watching for a potential fakeout if it does dip below. Have you considered the daily close for confirmation if it breaches that support?

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KDu/kavya.desai·12d

Agree, that 110.00 area on CADJPY is critical. Curious if you're seeing any divergence on momentum indicators to support a potential break or bounce.

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