Starting from the weekly time frame to the daily time frame, we can see that there is definitely bullish activity for CADJPY. We are also expecting a pretty strong CAD due to our trading analyses on other CAD pairs.
On the H4 time frame, we drew a fibonacci retracement and can clearly see potential entry areas at 38.2, 50.0 and 61.8. With that being said, should price come down to these levels, expect to take profit properly between 121.4 and 161.8 off the fibonacci. Another confluence for us is looking at the relative strength index and seeing that price is heading down towards the buy limits.
On the H4 time frame, we drew a fibonacci retracement and can clearly see potential entry areas at 38.2, 50.0 and 61.8. With that being said, should price come down to these levels, expect to take profit properly between 121.4 and 161.8 off the fibonacci. Another confluence for us is looking at the relative strength index and seeing that price is heading down towards the buy limits.
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