HomeContributorsTechnical AnalysisCAD/JPY 1H Chart: Falling Wedge Pattern In Sight

CAD/JPY 1H Chart: Falling Wedge Pattern In Sight

The CAD/JPY exchange rate has been declining within a falling wedge pattern since the middle of June.

From a theoretical point of view, it is likely that a breakout north could occur within the following trading sessions. In this case the currency pair could re-test the psychological level at 82.00.

Meanwhile, note that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages. Thus, a breakout south could occur in the nearest future, and the rate could re-test the 75.00 level.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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