Currently, CADJPY is moving inside of descending channel. Recently, checked the Upper trend line and dropped down a little bit, and taking support on 86.57 and forming a potential double bottom pattern.
If it breaks the neckline, it is possible to head to 88.0 and more likely 8.427.
If it can't break to the neckline and channel upper trend line, it is possible to drop down to 85.46 which is a strong supports zone.
Either way is possible!!!
If it breaks the neckline, it is possible to head to 88.0 and more likely 8.427.
If it can't break to the neckline and channel upper trend line, it is possible to drop down to 85.46 which is a strong supports zone.
Either way is possible!!!
Note
As planned didn't break the 87.30 neckline and heading to 85.46. 🔥🔥🔥
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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.