CAD/JPY Trading Analysis (24/04/2025)
The trend is descending. The currency pair is trading in the range between 365 and 135 ЕМАs. The upward truncated wave structure finished with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought conditions.
Trade idea:
- Sell at the beginning of the formation of the downward wave structure, when wave A breaks the sloping channel of the upward truncated structure.
- Stop-loss at 103.410.
- Price targets at 102.050 and 101.260.
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