Wed, Apr 14, 2021 @ 08:10 GMT
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CAD/JPY 4H Chart: Rising Wedge Pattern In Sight

Since the middle of October, the CAD/JPY currency pair has been trading within a rising wedge pattern.

From a theoretical perspective, it is likely that the exchange rate could continue to appreciate within the predetermined pattern until the beginning of April. Then, a breakout south could occur.

In the meantime, note that the rate is supported by the 55-, 100– and 200-period moving averages in the 82.00/83.00 area. Thus, a breakout north could occur, and the pair could target the 91.50 level.

Dukascopy Swiss FX Group
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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