CADJPY: Classic Bullish Accumulation
CADJPY is currently experiencing an upward trend on a 4-hour chart. The price has created a pattern known as an ascending triangle, with 114.85 acting as a key resistance level.
I anticipate that the next significant movement will occur once the price breaks above the highlighted blue area. Confirmation of this breakout will come with a 4-hour candle closing above the area.
If this bullish breakout occurs, I expect the price to continue rising towards the 115.94 level.
I anticipate that the next significant movement will occur once the price breaks above the highlighted blue area. Confirmation of this breakout will come with a 4-hour candle closing above the area.
If this bullish breakout occurs, I expect the price to continue rising towards the 115.94 level.
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