CAD/JPY Trading Analysis (04/06/2024)

The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and moving averages of the Stochastic Oscillator are out of the oversold zone.

Trading analysis:

Buy when the formation of the upward wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss is under the local minimum of the descending structure.

Target price levels at 114.800 and 115.500.

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