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CAD/JPY – H4 Analysis ... (1 Viewer)

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 CAD/JPY – H4 Analysis ... (1 Viewer)

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RaKotU

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1️⃣ Current Context

  • CAD/JPY is trading around 92.50–92.70 on the H4 chart.
  • The pair has recently pulled back after testing recent highs, forming short-term consolidation near support levels.
  • Trend remains bullish overall, but short-term momentum is slowing.

2️⃣ Key H4 Chart Patterns

🔹 Ascending Channel

  • Pattern: Higher highs (~92.90) and higher lows (~91.80) forming a channel
  • Implication:
    • Price tends to bounce off channel support (~92.20–92.30)
    • Break above channel resistance (~93.00) → continuation of bullish trend

🔹 Bullish Flag / Pennant

  • Pattern: Recent pullback (~92.60–92.50) forming a narrow consolidation flag
  • Implication:
    • Break above 92.75–92.80 → bullish continuation
    • Break below 92.40 → short-term pullback toward channel support

🔹 Support & Resistance

ZoneRole
92.20–92.30Channel support / demand zone
92.50–92.60Short-term consolidation / flag base
92.90–93.00Resistance / recent highs

3️⃣ Technical Indicators (H4)

  • RSI: ~52 → neutral, slightly bullish
  • MACD: Flattening → short-term pause before next momentum move
  • Moving Averages:
    • 50 SMA above 100 SMA → bullish trend intact
    • Price hovering near 50 SMA → potential for support bounce

4️⃣ Potential Trade Setups

🔹 Bullish Continuation

  • Entry: Break above 92.75–92.80 with volume confirmation
  • Stop-Loss: Below 92.40 (flag support)
  • Targets:
    1. 92.90–93.00 (channel resistance)
    2. 93.20–93.30 (next swing high / extension)

🔹 Bearish / Pullback

  • Entry: Break below 92.40 support
  • Stop-Loss: Above 92.60
  • Targets:
    1. 92.20–92.30 (channel lower support)
    2. 91.90–92.00 (next support cluster)

5️⃣ Summary

  • Trend: Medium-term bullish (ascending channel)
  • Short-term: Pullback / consolidation forming flag pattern
  • Key Levels:
    • Support: 92.40, 92.20
    • Resistance: 92.80, 92.90–93.00
  • Strategy: Wait for breakout confirmation before entering; monitor H4 support for bounce trades or flag breakout for continuation.

 
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