CADJPY Is Coming Higher Out Of Projected Bullish Triangle PatternSep 20, 2023

CADJPY is coming higher out of projected bullish triangle pattern from technical point of view and from Elliott wave perspective.

CADJPY was trading sideways for the last couple of months, where we were tracking a bullish triangle pattern within higher degree wave IV before a bullish continuation for wave V. On september 04, we have spotted a completion of a bullish triangle pattern, as subwave E of IV found the support with a spike.

CADJPY Is Coming Higher Out Of Projected Bullish Triangle Pattern CADJPY 4H Chart From September 04
CADJPY 4H Chart From September 04

As you can see today on September 20, CADJPY is breaking yearly highs for a higher degree wave V as expected and there can be room for more upside within that projected five-wave cycle for a higher degree wave V towards 111 – 112 area, just be aware of short-term wave 4 pullback.

CADJPY Is Coming Higher Out Of Projected Bullish Triangle Pattern CADJPY 4H Chart From September 20
CADJPY 4H Chart From September 20

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Bitcoin Is At Support As DXY Trades Into Resistance. Check our recording of a latest live webinar HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.