The CADJPY has confirmed a breakout above the 109.30 barrier, moving past the 55-day moving average (MA55) and beginning to show significant gains, currently reaching 110.65.
However, the Stochastic indicator’s consolidation in the overbought territory suggests a potential temporary pullback. This could see the price testing the 109.75 level before resuming its bullish trajectory. The next targets for this upward movement are positioned around 111.10 and 111.75.
For today, the anticipated trading range is set between 109.80 and 111.10, with an overall trend forecast indicating a bullish outlook.
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