Possible CADJPY Short Opportunity
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.
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.