CADJPY possible long scenarios represented by the coloured arrows.
Scenario 1 (Green Arrow): we see a wedge pattern where it bounces of lower boundary to then make a move to the upside breaking out to resistance at 83.000 (psychological price level).
Scenario 2 (Blue Arrow): We see it break upper resistance (Black line), retest then move towards 83.000
We have identified a rising parallel channel that has multiple tests. Along with an inner channel/trend line.
Look to take a long up to the inner channel line (blue on chart), we then would expect it either to respect the trend line and move lower or break upwards to pervious highs/upper channel line.
Identification of a sell zone on AUD NZD here. Possible short coming up around price level 0.6700.
I would expect retracement to reach either the 0.5 or 0.618 Fib Levels, TP 1 and TP2 respectively.
Also multiple examples of RSI divergence shown as price enters the resistance zone.
Possible AUDCAD Long idea.
Confirmation on the 4hr of general bullish trend
Confirmation of channel by an engulfing candle
I would set TP at the 0.618 FIB level or the 0.5 Fib retracement with SL set at a channel breakout.