CADJPY is currently respecting a well-defined rising channel structure, with price reacting cleanly to both the upper and lower bounds of the channel.
After a sharp correction, price has once again tapped the lower trendline support, a level that has triggered bullish reversals, and is now showing early bullish signs.
This bounce suggests the market is preparing for another leg up, with 108.600 marked as a key target near the midline of the channel, which often acts as dynamic resistance in trending conditions.
After a sharp correction, price has once again tapped the lower trendline support, a level that has triggered bullish reversals, and is now showing early bullish signs.
This bounce suggests the market is preparing for another leg up, with 108.600 marked as a key target near the midline of the channel, which often acts as dynamic resistance in trending conditions.
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👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
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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.