CADJPY – Old resistance acting as new support

CADJPY forex analysis in different timeframe

CADJPY moving up and down by making sideways movement between the resistance and support level for long time as shown above.

The old resistance level becomes new support level. This is repeating again and again on this CADJPY chart.

CADJPY moved in an Uptrend by forming higher highs, higher lows in 30 minutes chart. But the downward movement is not confirmed.

Descending channel broken in cadjpy 30 minutes chart

Same as USD/JPY Analysis, CADJPY broken the bottom level of the Uptrend line and starts to move in a sideways for long time.

CADJPY still have space to move up in 4 hour chart. but market is making sideways now.

CAD JPY ranging trend still have more space to move up

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