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The CADJPY pair has leveraged the support from the MA55 consolidation around the 109.15 line, initiating a series of bullish movements and settling near 109.75.
Additionally, the stochastic indicator is signaling positive momentum, which enhances the likelihood of an upward trajectory. Analysts anticipate a rally towards the 110.35 level, with a potential breakthrough at this resistance opening the door for further gains toward 110.70 and 111.20.
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Today’s expected trading range is between a support level of 109.20 and a resistance level of 110.35.
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Trend Forecast: Bullish
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