. There is a possibility of temporary retracement to suggested support line (81.3). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. CADJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
The counter has a newly found bullish momentum.
It has formed higher highs from the lows. The lower lows formed can be connected to form a bullish trendline as well.
Also, it has formed an inverse head and shoulder and broke its neckline.
It is at the confluence of supports - neckline and trendline, which can be a tough nut to crack.
Hence, we expect the pair to...
CAD/JPY is at a strong price action resistance in the daily chart.
A doji candle has formed yesterday indicating uncertainty in the bulls minds.
Hence we expect the pair to make a run to its support at 82.319 from here.
ALERT SIGNAL FOR POSITIONAL
TRADE ALERT SIGNAL
SELL ENTRY 1 - 86.739
SELL ENTRY 2 - 87.285
TARGET 1 - 86.146
TARGET 2 - 85.500
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HOW WEEKLEY WIT SIGNAL IS VALID
FOR DAILY INCOME TRADER(DIT)
1,IT IS VALID UPTO 24 HOURS,ONCE IT HITS THE...