CAD/JPY – Bullish Reversal from Key Support (4H)
CAD/JPY is showing signs of a potential **bullish reversal** after respecting a strong demand zone around 101.75 – 102.00. Price has bounced multiple times from this zone, suggesting buyers are stepping in.
A downtrend line was broken recently, and price is attempting to form a **higher low**. If this bullish momentum holds, we could see a move toward the next resistance near 103.85.
📈 Trade Setup:
- Entry: Around 102.30 – 102.40
- Stop Loss: Below 101.75 (beneath strong support)
- Take Profit: Targeting 103.85 zone
- Bias: Bullish (Reversal structure)
This setup is ideal for swing traders looking to capitalize on structure-based reversals from strong support areas.
CAD/JPY is showing signs of a potential **bullish reversal** after respecting a strong demand zone around 101.75 – 102.00. Price has bounced multiple times from this zone, suggesting buyers are stepping in.
A downtrend line was broken recently, and price is attempting to form a **higher low**. If this bullish momentum holds, we could see a move toward the next resistance near 103.85.
📈 Trade Setup:
- Entry: Around 102.30 – 102.40
- Stop Loss: Below 101.75 (beneath strong support)
- Take Profit: Targeting 103.85 zone
- Bias: Bullish (Reversal structure)
This setup is ideal for swing traders looking to capitalize on structure-based reversals from strong support areas.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.