CADJPY Is Very Bullish! Buy!

29 thg 5, 2023

Take a look at our analysis for CADJPY.

Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a significant support area 103.219.

The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 105.007 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!