CADJPY Bullish Setup | Clean Structure

🔹 Overview:

Price has been respecting the bullish structure since bottoming out at 103.006. We’re currently seeing a healthy series of higher highs and higher lows, with price now hovering just below the key resistance at 106.262 — a critical zone to watch for either a breakout or healthy corrective pullback.

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📍 Key Levels:
• Support: 103.836 · 104.634 · 105.018
• Resistance: 106.262 (major) · 107.141 · 108.274
• Fib Zones: 38.2%, 50%, and -27.0%, -61.8% extensions all align

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🔄 Trade Scenarios:

✅ Scenario 1: Breakout & Retest
• Price breaks above 106.262 cleanly
• Retest into 106.00–106.26 (old resistance → new support)
• Entry on bullish confirmation
• 📈 Targets:
• TP1: 107.141 (-27.0% extension)
• TP2: 108.274 (-61.8% extension)

✅ Scenario 2: Healthy Pullback
• Price pulls back before breaking 106
• Watching fib retracement zone: 104.63–105.01
• HL forms above 103.836
• Entry on bullish confirmation (liquidity sweep + BOS)
• Targets remain the same

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❌ Invalidation:

A clean break and close below 103.836 invalidates bullish structure. At that point, a revisit of 103.006 becomes likely.

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⚙️ Confluence Factors:
• Bullish market structure (confirmed HHs & HLs)
• Fib retracement respect
• JPY basket shows Yen weakness
• Momentum aligned with CAD strength

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📣 Final Thoughts:

This setup offers two clean, high-probability entries whether you prefer breakout continuation or pullback structure trades. Stay patient and trade your plan — structure is king.

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