CADJPY Soaring: Bullish Trend Targets 106.40

CADJPY Sees Bullish Surge, Targeting 106.40

The CADJPY currency pair is showing strong bullish momentum today, breaking through key resistance levels. Driven by positive signals from the stochastic indicator, the pair surged past the 104.55 resistance point of a bearish channel, reaching a high of 106.25.

Support and Resistance Points

Adding to the bullish outlook is the support provided by the 55-period moving average, currently hovering near 105.40. This added stability strengthens the current upward trend. Traders are now anticipating a potential attack on the next resistance level at 106.40. If this level is successfully overcome, the CADJPY could continue its upward climb towards 106.85.

Today’s Trading Range

The expected trading range for the CADJPY today is between 105.40 and 106.40.

Overall Trend Forecast

The overall trend forecast for the CADJPY remains bullish.