Volatility and liquidity on the market are much lower today due to the Easter. Markets are still opened but many traders are not working today. In this case, for the bigger attractions we will have to wait a bit but it does not mean that we do not have anything interesting for You today. Our team spotted a very interesting occasion on the CAD/JPY.
For the past few months, this pair is nicely moving from the H&S to the iH&S. The first one, you can see on the far left of the chart. It was drawn between August and November 2016. The second one is a bit bigger and more technical but it is also expired (created from July 2017 to February 2018). It seems that the whole bearish movement has been already done. The third one is the smallest but is very promising as it is happening on a long-term horizontal support (green). The neckline (red) had been broken in the last week, so the buy signal is up and running.
Currently, we do have a small short-term flag, which is promoting a further rise. With this kind of a price action, we do have quite big chances for a nice upswing here. The sentiment stays positive, as long as the price stays above the green line.
