💱 CADJPY - An ascending triangle has been forming for a month

31 авг. 2023 г.

CADJPY is gaining a strong resistance area of 108.000. Price continues to test the resistance in an ascending triangle format over the month.

TA on the high timeframe:
1) We see an interesting pattern: a limit resistance level in the 108.000 area and a gradual pushing of the price towards this area
2) Minimums that are not updated, but growing.
3) Buyers have their own plan and continue to retest the resistance area.

TA on the low timeframe:
1) The ascending triangle and frequent resistance level retests speak for themselves
2) The 108 level separates the market from a strong and sustained upward move.
3) Price may make a false breakdown of support and start testing the resistance area again.

Key support📉: rising line, 107.087
Key resistance📈: 108.123