CAD/JPY Trade Idea (Technical Analysis)
Timeframe: 15-Minute
Current Setup:
CAD/JPY has formed a clear Inverse Head and Shoulders (bullish reversal) pattern after a sharp decline.
Price is currently building the right shoulder, and the pattern is nearing completion.
Key Levels:
• Neckline (Resistance): Blue horizontal line (current key level to watch)
• Pattern Low (Head): Recent lows
• Bullish Target: Measured move of the pattern (projected upward arrow)
Trading Plan:
A break and close above the neckline with strong momentum will confirm the bullish reversal. This breakout would be a high-probability long entry targeting the measured move of the inverse head and shoulders.
Timeframe: 15-Minute
Current Setup:
CAD/JPY has formed a clear Inverse Head and Shoulders (bullish reversal) pattern after a sharp decline.
Price is currently building the right shoulder, and the pattern is nearing completion.
Key Levels:
• Neckline (Resistance): Blue horizontal line (current key level to watch)
• Pattern Low (Head): Recent lows
• Bullish Target: Measured move of the pattern (projected upward arrow)
Trading Plan:
A break and close above the neckline with strong momentum will confirm the bullish reversal. This breakout would be a high-probability long entry targeting the measured move of the inverse head and shoulders.
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.
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.