What I am seeing on a weekly chart, CADJPY, may surprise soon.
You can see here a weekly chart for CADJPY, It's quite apparent the uptrend, and the price on a weekly has been in a huge rising wedge since March 2020, nearly 5 years ago.
This year alone, there have been at least 3 moving averages cross-ups supportive of higher prices to continue, the one that interests me the most is the most recent MACD bullish cross-up on the signal-line.
Fibonacci Retracement levels from recent weeks, all line up in price in that golden zone area between 50% and 38.2%.
This is all lining up nicely on the weekly chart for long positions again soon on CADJPY.
Now here is the Daily chart, the first thing that's apparent is the sell off this week, the chart also leaves a feeling that bearishness is set to continue. I differ and I think bulls will be buying this from the start of next week and price action will start to turn back to the upside at some point during next week.
Finally, I want to take a look at a very low timeframe and see what is developing there.
