CAD/JPY 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Canadian Dollar has been rallying against the Japanese Yen since early November; a climb was performed within the limits of the rising wedge pattern that is 164-bar long now. While fluctuating between two gradually converging lines, the pair managed to attain a five-month high twice; the most recent stab to this peak led to a retreat to the 50-bar SMA, near which the pair is faltering at the moment. However, CAD/JPY may return to record highs given a strong bullishness on the market; 77.78% of traders hold long positions on the pair.
© Dukascopy Bank SA
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