CADJPY Forecast -- Triple Bottom and Inv HS Pattern

16 Haz 2017

CAD/JPY is giving us a great setup long term. We've received a triple bottom with a wide range bar closing on its high in follow through -- the icing on the cake is that that happened in the larger context of two larger patterns, one monthly and one weekly. The weekly pattern is an Inverted Head and Shoulders Setup.

At the time of this posting we are close to news from the BOJ -- this may very well grant us volatility movement forward or against. I wouldn't be surprised if this pair either tested lower with a large drop on the hourly before going higher or if it accelerated higher on the news.

Trade is active at the higher close -- targeting 87 - 90 over the next 1 - 3 months.

-Always use a stop
-Trade only with money you can afford to lose
-Be open to multiple scenarios
-It's okay to be wrong about anything

16 Eyl 2017

Not

Advanced directly to target.