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yo_zubair

CAD/JPY - 1H - Breakout Setup

Canadian Dollar / Japanese Yen (FX:CADJPY)  
yo_zubair  
FX:CADJPY   Canadian Dollar / Japanese Yen
Support and Resistance Triangle Oscillators Forex CADJPY breakoutsetup Symmetrical Triangle Double Bottom Bullish Divergence obvoscillator
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supportandresistance triangle oscillator forex cadjpy breakoutsetup symmetricaltriangle doublebottom bullishdivergence obvoscillator
CAD/JPY is in a range, forming a symmetrical triangle. The price action is currently testing an important resistance zone after forming a double bottom on support zone.

I'm expecting a resistance breakout due to Double Bottom + Bullish Divergence on the RSI and Volume uptrend on OBV.

Now key zone for bulls is to break above the resistance zone. While a break from support zone will bring bears in party. The price could also stay in the range. Trade your levels accordingly.
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