Hello everyone, The currency pair CADJPY currently has the potential to continue its upward movement. The current price of this instrument is 106.071 and is above the moving average level of 106.046. Taking these factors into account, buying at the moment is a more promising strategy than selling. A reference point for buyers could be the upper mark of the LRMA BB indicator, which is at 106.158. However, it is worth considering that buying pressure may continue above this level, depending on the current market volatility. Therefore, sales above the level of 106.158 are possible. For sellers, the lower level of the LRMA BB indicator at 105.933 presents a selling target. It is also important to monitor the moving average value, which stands at 106.046. A breakthrough below this level could signal readiness for market sales.
