Trading Idea

CADJPY: Consolidation in short term?

Important Tops were reached in the short term and we cannot exclude the completion of the bullish cycle, having said this, it could be interesting to continue following the pair on the intraday chart, because something like a corrective structure seems to appear. As we showed on the 1H chart, if there is a deep pullback or if the bearish corrective structure is close to completion, the technical target still remains bullish, around 111.25. In conclusion, we can consider this phase as a consolidation of the ongoing bullish trend.

Related posts

NZDUSD: Trend is still bullish on intraday chart

A.B.

EURUSD: Rebound is coming? |ABC Pattern|

A.B.

USOIL: Red Sea tension could support price in short term

A.B.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More