CAD/JPY analysis, May 30, 2022
On the 4hour candle chart
The CAD/JPY currency pair found support in the area at 98.30/97.76 and then rose again, approaching the resistance of the 100 hour simple moving average and the descending trend line.
In the case that the pair reaches above the trend line, it could continue its surge to the resistance levels at 101.17, 102.01 and 102.47.
On the other hand, If the pair fails to pass the 100 hour SMA and the trend line, it is likely to fall again to the support area.
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