Technical Analytics Report

CAD/JPY: Ichimoku Indicators Analysis 01 Feb 2021.

On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (81.20). One of the previous maximums of Chikou Span line is expected to be a resistance level (84.05).

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is the upper border of the cloud (81.37). One of the previous maximums of Chikou Span line is expected to be a resistance level (83.89).

It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (83.89) and Stop Loss at the upper border of the cloud (81.37).

Canadian Dollar to Japanese Yen

BuySellSpread: 81.997 81.943

Scenario

Timeframe: Weekly

Recommendations BUY

Entry Point: 81.84

Take Profit: 83.89

Stop Loss: 81.37

Support levels: 81.20, 81.37, 83.89, 84.05


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