CAD/JPY: 1-hour
They say the trend is your friend until the bend at the end. What will it be for CAD/JPY? It looks like the rising trend line on the pair’s 1-hour forex chart is still holding for now and stochastic is suggesting that another bounce is possible. If so, another climb towards the previous highs at the 100.00 major psychological resistance level might be in order. A break below the trend line support near the 99.00 major psychological level might be a sign that the trend is already exhausted and that it’s time for a reversal. Better review our lesson on How to Trade Breakouts if you’re looking to short!
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