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CAD/JPY Trading Analysis (20/11/2023)

20.11.2023

Market Review

The trend is ascending. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
 

CAD/JPY chart as of 20/11/2023 with technical indicators

Trading analysis:

Buy at the formation of the ascending wave structure, when the A-wave breaches the sloping channel of the descending truncated structure.

Stop-Loss: 108.60.

Target price levels: 110.00, 110.50.


#cadjpy #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC
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