CADJPY: Bearish wedge

CADJPY, Daily

In the Daily timeframe, CADJPY formed a rising wedge pattern. The price broke the lower trend line and fell below the FRAMA. Parabolic SAR also indicates a possible start of a decline.

CADJPY may be considered for sale when falling below 109.500 with a target of 108.000;

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Egor Schmidt

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