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T3-Consultancy

CADJPY D1: Bullish outlook seen, waiting for retracement to the

Long
Canadian Dollar / Japanese Yen (FX:CADJPY)  
T3-Consultancy  
FX:CADJPY   Canadian Dollar / Japanese Yen
Trend Analysis Chart Patterns
2
0
trendanalysis chartpattern
On the D1 timeframe, a strong bullish trend can be seen. Prices have broken out of the previous ascending channel at around 97.05, and the upper bound has served as a resistance turned support level on 2 occasions. A good opportunity to ride the trend at the 0.786 Fibonacci retracement level for the continuation to the upside.
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