CADJPY - Two Magnets, Two Clear Jobs

CADJPY is trading between two key zones that keep acting like magnets:

On the upside, the resistance zone around $114.70 – $115.20 has been attracting price repeatedly. Every time price pushes into that area, sellers step in and momentum fades. As long as that structure holds, that’s where I’ll be looking for shorts. 📉

On the downside, the blue demand zone inside the rising channel continues to act as support. That’s where buyers previously stepped in with strength and defended structure. As price pulls back toward that zone, I’ll be looking for longs. 📈

For now, we wait! ⏱️

Which zone do you think CADJPY taps next? 🤔

⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

📚 Stick to your trading plan regarding entries, risk, and management.

Good luck! 🍀

All Strategies Are Good; If Managed Properly!
~Richard Nasr

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