CADJPY Will Grow! Long!
Take a look at our analysis for CADJPY.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 109.494.
The above observations make me that the market will inevitably achieve 110.050 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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🔝Best Broker: icmarkets.com/trading-markets/forex/?camp=51166
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