📈CADJPY has been on a strong bullish run lately, but price is now approaching a critical confluence zone, the perfect Trio Retest Setup.
The red circle highlights the intersection of two upper trendlines (the rising channel and the short-term wedge) together with a major horizontal resistance at 111.00.
⚔️This trio intersection creates a powerful technical barrier, suggesting that the pair is overbought in the short term. From here, I’ll be looking for signs of exhaustion or reversal patterns to catch the next corrective leg down.
🔎A potential retracement could send CADJPY back toward the 106.00–105.00 support zone, which also aligns with the lower boundary of the main ascending channel.
Until the trio zone is broken decisively to the upside, the bears might step in to cool off the momentum.
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📊All Strategies Are Good; If Managed Properly!
~Richard Nasr
The red circle highlights the intersection of two upper trendlines (the rising channel and the short-term wedge) together with a major horizontal resistance at 111.00.
⚔️This trio intersection creates a powerful technical barrier, suggesting that the pair is overbought in the short term. From here, I’ll be looking for signs of exhaustion or reversal patterns to catch the next corrective leg down.
🔎A potential retracement could send CADJPY back toward the 106.00–105.00 support zone, which also aligns with the lower boundary of the main ascending channel.
Until the trio zone is broken decisively to the upside, the bears might step in to cool off the momentum.
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📊All Strategies Are Good; If Managed Properly!
~Richard Nasr
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📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.