CAD/JPY has been steadily falling in the last few days – in accordance with the following trade opportunity alert which I received last Wednesday for this currency pair. At the time this alert was generated, the pair was expected to break down through the lower support trendline of the Flag chart pattern identified by Autochartist on the daily CAD/JPY charts and then to reach the target level 96.27 in the next 7 trading days. The pair closely followed this bearish scenario in the following trading days – breaking sharply down through the lower support trendline of this Flag – on Thursday (as you can see on the second chart below).
CAD/JPY - 1" title="CAD/JPY - 1" width="600" height="364">
The following, more recent, alert for this currency pair displays the latest price action fully following the above bearish scenario. As you can see form this trade alert, the target level for this setup was recently updated and now stands at 97.0344. The earlier breakout of this daily Flag should help the pair reach the target level 97.0344 in the next 2 trading days.
CAD/JPY - 2" title="CAD/JPY - 2" width="600" height="367">
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CAD/JPY: Steadily Falling
Published 05/27/2013, 02:48 AM
Updated 03/09/2019, 08:30 AM
CAD/JPY: Steadily Falling
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