CADJPY has been highly volatile recently, experiencing a significant increase in motion. The price line has been moving erratically, but it managed to break above a dynamic resistance level. This break indicates a possible bullish phase in the future, although a retest of the trend line is expected before the trend can be confirmed. The CADJPY analysis suggests that traders may want to keep a close eye on the trend line and dynamic resistance level to confirm whether the bullish trend will continue or if the price will revert to the previous bearish trend. Overall, the recent price action in CADJPY has been highly dynamic, and it will be important for traders to carefully monitor the market to identify potential opportunities and risks.
• There is a resistance level at 98.670 followed by resistance at 100.000 and 101.750.
• There is a support level at 95.440. Below, there is 94.600 and 93.700.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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