Forex

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

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