CAD/JPY Price Analysis: Bulls and bears battle it out at daily structure

Ross J Burland FXStreet

The price of CAD/JPY is at a crossroads on the daily chart, sandwiched between weekly upside and monthly downside set-ups.

The monthly outlook as the price testing a resistance structure as follows:

Monthly chart

However, from a weekly perspective, the price has completed a return back to high volume support which leaves the upside open for a restest from liquidity.

Weekly chart

Daily chart

The daily chart opens risk to the support level for which if it holds will likely see bull emerge for a re-run of the upside.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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