CADJPY Buy signal initiated. Channel Up intact.
The CADJPY pair extended the Channel Up flawlessly and hit our latest Target (April 02, see chart below):
The price is now breaking above the short-term Ascending Triangle, which within the long-term Channel Up has always issued a buy signal after the price approached the 0.382 Fibonacci retracement level. The immediate Target on both previous break-outs has bee the -0.382 Fib extension.
The 1D RSI is also posting that pre break-out consolidation. As a result we turn bullish again on this pair, targeting 116.500 (slightly below the -0.382 Fib).
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The price is now breaking above the short-term Ascending Triangle, which within the long-term Channel Up has always issued a buy signal after the price approached the 0.382 Fibonacci retracement level. The immediate Target on both previous break-outs has bee the -0.382 Fib extension.
The 1D RSI is also posting that pre break-out consolidation. As a result we turn bullish again on this pair, targeting 116.500 (slightly below the -0.382 Fib).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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