The price has broken upward through the strong resistance level formed inside the channel, which has already become support. I expect the price to rise from this level after consolidation to the upper border of the descending range.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
I’m sorry madam I saw your comment that you said it’s impossible for CADJPY to rise, please answer me!
DeGRAM
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I do not think that in general in the near future CADJPY from 88.29800 will go to rise)
Hama_Sullivan
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@DeGRAM why do you do that?! In your page you posted an analysis that you say it will rise?
nguchobotsau
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@Hama_Sullivan, just look at the chart, there is an old head and shoulder to the right, confirmed with retest therefore it is a strong resistant, there is another head and shoulder formed today, 3/aug, just under the old confirmed line of H/S. It is also in middle of a channel, you will really cant confirm when the trend of long term come back by pure prediction like this. Just react each day my friend.