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DNP-FX

CADJPY, Ascending Triangle

Long
Canadian Dollar / Japanese Yen (OANDA:CADJPY)  
DNP-FX  
OANDA:CADJPY   Canadian Dollar / Japanese Yen
Trend Analysis Chart Patterns Triangle CADJPY
2
0
trendanalysis chartpattern triangle cadjpy
The outlook for CADJPY is bullish. Price is forming an ascending triangle and is currently trading near resistance.

There are three possible outcomes for CADJPY:
  • Price breakout to the upside. This is the most likely scenario, as the price is forming an ascending triangle and is currently trading near resistance.
  • Price bounces off of support and continues to trade within the triangle. This is also a possible scenario, as the price has a history of bouncing off of support in the past.
  • Price breakout to the downside and then rebounds. This is the least likely scenario.

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