Hello everyone:
Similar like other JPY pairs, I have been talking about CADJPY for weeks now.
The overall structure is complete in my opinion, and we can expect to get the next bearish impulse down to the bottom of the structure.
We see the last bit of price action, forming a ascending channel, breaking above the higher time frame structure, but in a corrective way.
Then a bearish impulse on the lower time frame, breaking out of the channel, can indicate the beginning of the next bearish run.
I would wait for lower time frame continuation correction to develop and add in the sell.
thank you
Similar like other JPY pairs, I have been talking about CADJPY for weeks now.
The overall structure is complete in my opinion, and we can expect to get the next bearish impulse down to the bottom of the structure.
We see the last bit of price action, forming a ascending channel, breaking above the higher time frame structure, but in a corrective way.
Then a bearish impulse on the lower time frame, breaking out of the channel, can indicate the beginning of the next bearish run.
I would wait for lower time frame continuation correction to develop and add in the sell.
thank you
Note
Lower time frame:Note
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Related publications
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.