Buy CADJPY Bullish channel

The CAD/JPY pair on the M30 timeframe presents a potential buying opportunity due to a well-defined bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours.

Buy Entry: Consider entering a long position around the current price of 111.19, positioned close to the channel support. This offers an entry point near a potential continuation of the upward move.

Target Levels: Initial bullish targets lie at the resistance levels of 111.60 and 111.84, marking previous resistance zones within the channel.

Stop-Loss: To manage risk, place a stop-loss order below the support line of the channel at 110.90. This helps limit potential losses if the price reverses and breaks back down.

Thank you

Trade active:

JPY weakens: JPY GDP news comes in negative, it could signal a weakening Japanese economy. This could lead to investors selling JPY and buying other currencies.

Trade closed: stop reached:

JPY - GDP Comes in Negative only⚠️, but JPY Currency looks Strong now and

Price breaks the Channel Pattern in EUR/JPY and CAD/JPY.