CADJPY is gaining momentum before the upward surge

  • Jun 01 2021
  • by
  • Analyst AZA
CADJPY is gaining momentum before the upward surge

CADJPY is gaining momentum before the upward surge

The CADJPY currency pair is in an uptrend and is gaining momentum before the upward surge after the breakout of the resistance level. There is a strong resistance level ahead, but there are no other levels behind it that could stop the further price growth. This level coincides with the daily resistance levels. After breaking it, we recommend setting Take Profit at the flat level of 93.00, but you can still move the order up by 30 pips to the level of 93.30 because that is where the price will meet real resistance.

Symbol: CADJPY
Order Type: Pending Order - Buy Stop
Entry Price: 91.50
Take Profit: 93.00
Pips Earning: 150

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The profit can be $1428.57 if the trading volume of 100000 CAD (1 Lot).

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