CAD/JPY breaking out from Ascending Triangle
Updated
CAD/JPY found critical support in March at the 80.75 level. This level has not only served as support but resistance as well looking back to the middle of 2016. The move above 86.00 confirms the breakout and is echoed by the TSI whose momentum now threatens the zero line and the positive trend in the Aroon. Next target is 88.50
Trade closed: target reached
The first target reached but with a shooting star candle, I'm closing half the position. Will need confirmation to become a reversal pattern.
For more analysis, signals, education, and more sign up for Forex Forecast. It's free.
positionforex.com/join-forex-forecast/
positionforex.com/join-forex-forecast/
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.