FX.co - USD/CAD analysis for January 07, 2022

2022-01-07T13:15:52

Relevance until2022-01-08

Technical analysis:

USD/CAD analysis for January 07, 2022 - Inside day formation

USD/JPY has been trading sideways at the price of 115,90 and I see potential for the breakout.

Trading recommendation:

Watch for the potential breakout of the resistance at the price of 116,35 to confirm further upside continuation.

Upside objectives are set at the price of 116,83 and 117,50.

Important support level is set at the price of 115,50.

short-term upside trend is still active and that buying breakout are preferable....

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ USD/CAD analysis for January 07, 2022 - Inside day formation