empty
 
 
30.11.2022 04:33 PM
CAD/JPY: downside seems over, upside reversal in play

This image is no longer relevant

CAD/JPY Strong Buyers!

The CAD/JPY pair registered a strong upside movement and now is trading at 103.12. As you can see on the H1 chart, the rate failed to stay below the channel's downside line signaling exhausted sellers and that the downside movement ended.

Now, it has jumped above the 102.46 previous low and beyond the downtrend line. These levels represent upside obstacles. Personally, I've drawn an ascending pitchfork. This acts as a dynamic downside obstacle. As long as it stays above it, the currency pair could extend its growth.

CAD/JPY Trading Conclusion!

Breaking above the downtrend line signaled a potential upside continuation. The breakout was seen as a buying opportunity.

Ralph Shedler,
Chuyên gia phân tích của InstaForex
© 2007-2023
CADJPY
Canadian Dollar vs Japanise Yen
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $8000 nhiều hơn!
    Trong Tháng 3 chúng tôi xổ $8000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Recommended Stories

EUR/USD and GBP/USD trading plan for beginners on March 22, 2023

A report from the National Association of Realtors says existing home sales in the United States increased 14.5% in February from the previous month to 4.58 million homes year-on-year. This

Gven Podolsky 10:05 2023-03-22 UTC+2

GBP/USD: trading plan for European session on March 22. Commitment of Traders. GBP settles at monthly highs

Yesterday, there were several excellent entry points. Now, let's look at the 5-minute chart and figure out what actually happened. In my morning article, I turned your attention to 1.2227

Miroslaw Bawulski 07:50 2023-03-22 UTC+2

Trading plan for USD index on March 22, 2023

The US dollar index dropped through the 102.60 mark intraday on Tuesday before finding mild bids again. Potential still remains for a dip through the 102.50 mark before resuming

Oscar Ton 07:22 2023-03-22 UTC+2

Trading plan for EURUSD on March 22, 2023

EURUSD rallied through 1.0780 intraday on Tuesday before finding mild resistance. The single currency pair is seen to be trading close to 1.0775 at this point in writing

Oscar Ton 07:08 2023-03-22 UTC+2

GBP/USD: Forecast and trading signals on March 22. COT report. Detailed analysis of price movement and trades. The pound plummeted before the central bank meetings.

On Tuesday, GBP/USD surprisingly showed a completely different direction of movement than the EUR/USD pair. And as usual there were no reasons for that, because there were no important fundamental

Paolo Greco 03:41 2023-03-22 UTC+2

EUR/USD: Forecast and trading signals on March 22. COT report. Detailed analysis of price movement and trades. The dollar is ready for the Fed meeting.

On Tuesday, EUR/USD showed growth again. As we have already said in other articles, you can find reasons for the euro's growth. It is not the fact that they really

Paolo Greco 03:39 2023-03-22 UTC+2

How to trade GBP/USD on March 22. Simple trading tips and analysis for beginners

GBP/USD started a downward spiral on Tuesday. We can't say it was triggered by any particular event or report, because there were neither the former nor the latter

Paolo Greco 22:47 2023-03-21 UTC+2

How to trade EUR/USD on March 22. Simple trading tips and analysis for beginners

On Tuesday, EUR/USD continued a not too strong, but stable upward movement. Basically, it does not even make sense to ask why the euro rose today. Firstly, on the 30-minute

Paolo Greco 22:47 2023-03-21 UTC+2

Gold: 1,937 as next downside target

The price of gold turned to the downside and now is trading at 1,943 at the time of writing and it seems very heavy. After its amazing rally, a short

Ralph Shedler 18:23 2023-03-21 UTC+2

GBP/USD outlook for March 21, 2023

This week could be decisive for the GBP/USD pair: on Wednesday (at 18:00 GMT), the Fed's interest rate decision will be published, and on Thursday (at 12:00 GMT), the Bank

Jurij Tolin 14:35 2023-03-21 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.