Despite the fact CAD/JPY broke the upper limit of the 76-bar long triangle pattern a day earlier, the question whether the breakout was real remains in place as after a short-lived rally to a two-month high of 94.27 the pair reversed its trend and started to move towards the pattern's upper trend-line.
CAD/JPY is now trading slightly above the pattern's resistance; however, SWFX traders do not lose faith in the instrument – more than 80% of them hope an accelerating advance still lies ahead. Technical numbers also point to a possible rise of CAD/JPY in the short and medium terms.
Source: Dukascopy Bank SA


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