. Unveiling the Intricacies of CADJPY: A Weekly Chart Analysis

Unveiling the Intricacies of CADJPY: A Weekly Chart Analysis

Unveiling the Intricacies of CADJPY: A Weekly Chart Analysis

24 May 2023

CADJPY Technical Analysis: Weekly Chart

In the weekly charts, CADJPY was trading in a downward channel. CADJPY is currently trading above all SMA.

RSI is in the overbought zone which indicates mild-bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 100.00 the resistance level is at 110.00

CADJPY was traded in a down channel before there is an upside breakout. 

CADJPY Technical Analysis: Daily Chart

In the daily charts, CADJPY is trading in an up channel. CADJPY is currently trading above all SMA except MA (5).

RSI is in the overbought zone which indicates mild-bearishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 99.00 the resistance level is at 109.00

CADJPY will trade in an up channel until there is a trend reversal.   

How to Trade CADJPY this Week:

CADJPY will follow the uptrend until its trend reversal. So, remain bullish on CADJPY

TRADE SUGGESTION- BUY AT 102.00, TAKE PROFIT AT 110.00, AND STOP LOSS AT 95.25