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Chibuike_Odoh
15 Th12 2020 07:36

CADJPY - Weekly analysis  

Canadian Dollar/Japanese YenFXCM

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CADJPY has been on a long term downtrend since 2017.
Price is testing the descending channel resistance.
Price action is printing an ascending triangle pattern.
Bullish ⬆️ - breakout above the ascending triangle resistance + descending channel resistance.
Bearish ⬇️ - breakdown below the ascending triangle support + previous swing low.
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fxpays
I’m short cadjpy, head and shoulders on 4 hour time frame
Chibuike_Odoh
@fxpays yeah I've spotted it too. Waiting for the pattern neckline breakdown sell confirmation
fxpays
@Chibuike_Odoh, ye same, I'm staying out until neckline is broken, good luck this week
Chibuike_Odoh
@fxpays thanks mate
Harryc1010
Yeah
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