CAD/JPY forms double top around 85.75, good to sell on rallies

FX:CADJPY   Canadian Dollar / Japanese Yen
130 0 4
Pattern Formed –Double Top

Major resistance- 86.10 (Weekly Kijun-Sen)

Major support – 84.50 (55 day 4H EMA )

The pair has once again retreated after making a high of 85.68. It is currently trading around 85.32.

Potential upside is limited by Weekly Kijun-Sen around 86.10 level. Any further bullishness can be seen only above 86.10 level. Any break above 86.10 will take the pair to next level 86.61/87.17.

On the lower side major support is around 84.65 (55 day 4H EMA ) and break below targets 84/83.70/83.25.

Overall bearish invalidation only above 87.20 level.

It is good to sell on rallies around 85.35-40 with SL around 86.10 for the TP of 84.65/84/83.70
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out