CAD:JPY or EUR:USD

29 May 2019

The CAD/JPY pair has a similar price movement with EUR/USD, but following currency strength, the CAD/JPY seems viable. With the CAD/JPY approaching to test and break through previous resistance areas, there might be a bull run towards 81.118 if the pair breaks through the resistance at 80.992 taking the risk, I recommend a long position alongside trailing stop loss and a take profit position just above the 80.992 price line to be conservative or the 81.118 price line to be aggressive.