The day chart of CAD/JPY is forming a head and shoulder pattern.
Also the head and shoulder is having a right inclined slope which indicates that the pair is very weak.
We expect the selling pressure to further intensify when it cuts the slopline.
It will be a good time to enter a short trade once the candlestick closes below the neckline.
Also the head and shoulder is having a right inclined slope which indicates that the pair is very weak.
We expect the selling pressure to further intensify when it cuts the slopline.
It will be a good time to enter a short trade once the candlestick closes below the neckline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.