CADJPY Analysis
CADJPY is rebounding from the higher low area of the ascending channel in the higher timeframe daily chart.
In the smaller timeframe 1-hour chart, CADJPY broken the lower high (top) area of the minor descending channel.
After the confirmation of the Upward movement, the CADJPY Buy signal was given.
CADJPY Update:
CADJPY has consolidated after the breakout of the minor descending channel. Now the market price fall to the retest area and the higher low area of the Ascending channel which leads to the SL price. The quick move happened due to the impact of US Consumer Price Index (CPI) economic news data. CADJPY is still staying in an Uptrend (ascending channel). Please note: In the forex market, technical works 80% of the time, and fundamental works 20% of the time. This time fundamental wins. Be patience and wait for the next good opportunity signal.
Don’t trade all the time, trade forex only at the confirmed trade setups.
Get more confirmed trade setups here: forexgdp.com/buy/
