CADJPY, Ascending Triangle

14 Nis

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.