Potential Long @ CADJPY Analysis
This is not a signal , just possible trade setup for CADJPY ,
as price remain supported by horizontal level and has closed above 20 SMA in 4hr suggest that there is potential of price moving higher towards next resistance ,
In weekly chart price is approaching strong resistance which has already rejected price 2 times, and to be seen if price is rejected or cadjpy manages to break above .
this is short term analysis while weekly range remains small , buy near resistance can be risky , while if breakout happens then it can be very rewarding also , manage your risk wisely..
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