Prospects for the
CAD/JPY currency pair based on technical analysis. We will focus mainly on resistance and support levels, volumes, and lower-window indicators. Let’s look at the chart:
The rise has finally slowed down and for now has moved into a flat phase. The pair tested the resistance level and is now in a correction. Let’s see what awaits us in the near future from the standpoint of technical analysis. The pair has slipped slightly but has not reached the target and has reversed. The chart shows that the pair tested the 115.55 level and is now trading at 115.39. The RSI indicator is moving in the middle of the range and is hesitantly pointing downward, AO is showing a weak sell signal, the
CADJPY price is above the previous day’s trading range. The signals are not very strong, but there is a chance of a small decline. Therefore, I expect a move toward the 115.10 support level. Based on the analysis, selling is recommended down to the 115.15 level. However, remember that the market can be subject to sudden changes, so carefully assess your risks.
