CADJPY Analysis, May 02, 2025
CADJPY on TF M15 shows that although the price has decreased, the selling pressure is not significant, the candles formed have small bodies and fairly long shadows, indicating that buying pressure is starting to appear. This gives a signal that the price will most likely bounce in the demand area.
Place a Buy limit in the green area (around 104.80?105.00), right when the price approaches the lower end of the demand zone. Confirmation can be added with bullish candlestick signals such as hammer, bullish engulfing, or inside bar as additional validation. Stop Loss is placed below the demand zone, ideally in the 104.50 area to avoid false breakouts.