CADJPY is currently situated within a significant supply zone, raising the possibility of a potential reversal. Notably, the price has formed a robust rising wedge pattern, further bolstering the potential for a bearish breakout along the lower boundary. Confirmation of a breakout on the structure could pave the way for a substantial bearish trend on this currency pair.
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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.