Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
CADJPY Triangle Forming At Major Support

CADJPY Triangle Forming At Major Support

Talking Points:

  • CADJPY price range working its way towards a triangle
  • Triangle building at major 9400 support level
  • Above 9530 = Bullish Breakout, Below 9400 = Bearish Breakdown

On Monday I posted a chart of CADJPY showing a confluence of support levels. Over the course of the past few sessions a triangle has emerged on the hourly chart. Eyes on 9525, yesterday’s high, for a confirmation breakout with trade below 9400 negating the bullish bias. On a bullish breakout, initial target at 9670 (1/16 low).

CADJPY 1-Hour: Jan ‘15

--- Written by Paul Robinson, DailyFX Research

To contact Paul, you can email him at instructor@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES