HomeContributorsTechnical AnalysisCAD/JPY Coming Higher Out of Projected Bullish Triangle Pattern

CAD/JPY Coming Higher Out of Projected Bullish Triangle Pattern

CADJPY was trading sideways for the last couple of months, where we were tracking a bullish triangle pattern within higher degree wave IV before a bullish continuation for wave V. On september 04, we have spotted a completion of a bullish triangle pattern, as subwave E of IV found the support with a spike.

As you can see today on September 20, CADJPY is breaking yearly highs for a higher degree wave V as expected and there can be room for more upside within that projected five-wave cycle for a higher degree wave V towards 111 – 112 area, just be aware of short-term wave 4 pullback.

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