CADJPY has been supported by the 82.00 level since the beginning of the month of April.
The RSI is showing a bullish divergence on the Daily chart, indicating that the last down move is exhausted and there could be some potential for it to go higher
Trade Execution
A safe entry would be for the price to break above the downtrend channel, let it come back to test the channel before going long. Patience is the name of the game for this pair.
Any break below 82.00 will negate my bullish bias this moment
The RSI is showing a bullish divergence on the Daily chart, indicating that the last down move is exhausted and there could be some potential for it to go higher
Trade Execution
A safe entry would be for the price to break above the downtrend channel, let it come back to test the channel before going long. Patience is the name of the game for this pair.
Any break below 82.00 will negate my bullish bias this moment