FX.co ★ CADJPY above ascending trendline support! Further push up incoming!

Price holding above both moving average support and ascending trendline support. A further push up above 1st support at 82.193 towards 1st resistance at 83.583 could be possible. MACD is above 0 as well, showing room for further bullish momentum.

Trading Recommendation

Entry: 82.193

Reason for Entry:

38.2% Fibonacci retracement, ascending trendline support

Take Profit: 83.583

Reason for Take Profit:

127% Fibonacci extension

Stop Loss: 81.167

Reason for Stop Loss:

Recent swing low