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29.09.202308:46 Forex Analysis & Reviews: CAD/JPY: upside continuation pattern

Exchange Rates 29.09.2023 analysis

CAD/JPY Uptrend!

The currency pair is located at 110.68 at the time of writing. As you can see on the H1 chart, the rate continues to stay above the uptrend line, so it could extend its growth anytime. You knew from my previous analysis that only dropping and stabilizing below it invalidates further growth.

It's trapped between 110.86 and 110.53 levels. This range could represent an upside continuation formation as the rate tries to attract more buyers before jumping higher.

CAD/JPY Trading Conclusion!

Staying above the uptrend line and jumping beyond 110.86 activates further growth.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Ralph Shedler,
Analytical expert of InstaSpot
© 2007-2024
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