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CADJPY pair has recently broken below its ascending channel suggesting a potential shift in momentum. After peaking near the 106.25 resistance, price action has entered a consolidation phase hovering just above the 103.260 support level
Key observations
Ascending Channel Breakdown The prior bullish trend has been invalidated with a decisive break below the channel.
Consolidation Range Price is trapped in a tight range hinting at market indecision A breakout from this zone could signal the next move
Support at 103.260 A break below this key support level may open the path toward the demand zone near 101.50
Bearish Projection If price fails to reclaim higher levels expect potential downside pressure targeting the demand zone
Outlook I’m watching closely for a confirmed break and retest of the 103.26 support which could validate this bearish scenario However always practice sound risk management and confirm setups with your own analysis...
CADJPY pair has recently broken below its ascending channel suggesting a potential shift in momentum. After peaking near the 106.25 resistance, price action has entered a consolidation phase hovering just above the 103.260 support levelKey observations
Ascending Channel Breakdown The prior bullish trend has been invalidated with a decisive break below the channel.
Consolidation Range Price is trapped in a tight range hinting at market indecision A breakout from this zone could signal the next move
Support at 103.260 A break below this key support level may open the path toward the demand zone near 101.50
Bearish Projection If price fails to reclaim higher levels expect potential downside pressure targeting the demand zone
Outlook I’m watching closely for a confirmed break and retest of the 103.26 support which could validate this bearish scenario However always practice sound risk management and confirm setups with your own analysis...
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.