CAD/JPY unfolding beautifully !
We have been waiting for so long for this beautiful shape to form. CAD/JPY reached a very high key area on the weekly chart with a rising wedge formation. For now, we are waiting for the break of the rising channel inside the yellow rising wedge in order to target 81.142 which is the bottom of the yellow rising channel.
Breaking this level, which is also going to be the break of the yellow rising wedge, will be an amazing opportunity for traders to activate their short positions towards the 100% Fibonacci Extension Level at 80.175 as a first target, and if managed to break this level, we can see it dropping towards the bottom of the rising wedge at 78.120.
Keep your charts simple guys and focus on "Price action" because price action is king.
Breaking this level, which is also going to be the break of the yellow rising wedge, will be an amazing opportunity for traders to activate their short positions towards the 100% Fibonacci Extension Level at 80.175 as a first target, and if managed to break this level, we can see it dropping towards the bottom of the rising wedge at 78.120.
Keep your charts simple guys and focus on "Price action" because price action is king.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.