CADJPY has formed a rising wedge pattern, which is a typical bearish chart pattern.
Price is currently testing resistance level and is expected to get rejected. A Doji is also spotted on the H4 time frame, which apparently, generally signals a reversal pattern for technical analysts.
Conditions are satisfactory for a downside movement.
Entry at 83.705, Stops at 84.055 & Target at 82.505
Trading ideas are subjective. Individual analysis advised.
Price is currently testing resistance level and is expected to get rejected. A Doji is also spotted on the H4 time frame, which apparently, generally signals a reversal pattern for technical analysts.
Conditions are satisfactory for a downside movement.
Entry at 83.705, Stops at 84.055 & Target at 82.505
Trading ideas are subjective. Individual analysis advised.