CAD/JPY Trading Analysis (16/05/2025)
The trend is ascending. The currency pair is trading within the 365-135 EMA range. The downward truncated wave structure ended with the breach of the sloping channel. There is bullish divergence on the Awesome Oscillator and a Stochastic Oscillator signal of an oversold condition.
Trade idea:
- Buy on the breach of 104.300.
- Stop-loss at 103.880.
- Target prices are 104.900 and 105.910.
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