What is CAD/JPY and how does it work?

Put simply, CAD/JPY describes how many Japanese Yen you would need to buy a single Canadian Dollar on the global marketplace. For example, if CAD/JPY is trading at 85.00, then it will cost exactly 85 Japanese Yen to purchase a single Canadian Dollar at current market prices.

Why did cadjpy move down?

Pure Price Action study: CADJPY moved down after breaking a rising wedge mentioned at the 4H chart which is a bearish chart pattern. At the time being, CADJPY is trading near the resistance level of a rising formation signaling a near down move.

How long will cadjpy hold?

As we see after CADJPY went down from 110.2 to 99.5, the price hold in this area for more than 14 days - price range around under 2%. I did statistics from Jan 2022 until now, if the price is holding in the price range under 2% from 14 - 21 days, CADJPY will have a... Trading is all about patience.

Does cadjpy have breakout from ascending triangle pattern?

CADJPY has given breakout from Ascending Triangle pattern as show in chart. According to chart pattern analysis we might see upside in cadjpy towards the resistance level. trade with stop loss and own capital risk management. views / opinions are welcome to discuss.