This is an analysis of the CAD/JPY trading chart you see below on the D1 time frame. The CAD/JPY sold off and then formed a consolidation cluster. It is now reversing back up on the D1 time frame, so a great trend is developing here with 700 pips of upside potential. See yellow lines and price scale on the right side of the chart.
This pair is now trending higher. The current resistance level is about 96.50, and traders should set an audible price alert here. Above this price look for a buy signal on The Forex Heatmap® to confirm the buy. The trading charts you see are our free forex trend indicators which are exponential moving averages that we use at Forexearlywarning. Traders can set up the indicators across 8 currencies and 28 pairs, and they are free for anyone to set up and use.
Forex Trading Charts CAD/JPY 3-4-2015