CAD/JPY Trading Analysis (19/12/2023)

The trend is descending. The ascending truncated wave structure develops within the interval between 365 and 135 ЕМА. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.



Trading analysis:

Sell at the formation of the downward wave structure, when the wave A breaches the sloping channel of the truncated structure.

Stop-Loss is over the maximum of the ascending structure at 107.350.

Target price levels at 105.500 and 104.940.

#cadjpy #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor