CadJpy- Break of resistance and new highs are expected

After the dip and the double tap in 104 support back in December, CadJpy started to rise again and resumed its long-term bull trend.
Now the pair is trading back to important 110 zone resistance and a break up seems imminent.
The recent dive under 109 was quickly reversed, which also adds to my bullish perspective.
In conclusion, as long as the recent low is not violated, I expect an up continuation and CadJpy could rise towards 115 in the medium term.
For shorter term traders, 112 is also a good target with 1:2 risk:reward

Bình luận:

After a test of support, CadJpy reversed strongly.
Next, a break of resistance should follow

Bình luận:

We finally have a break above resistance
112 should follow