Thu, 12 Dec 2013 12:34:28 GMT
CAD/JPY 4H Chart: Rising Wedge
Even though CAD/JPY has preserved its upward momentum since mid-October, the trading range during this time period has substantially decreased, namely from 300 pips at the initiation of the recovery, down to 180 pips, judging by the fluctuations within the last few days. Accordingly, we may assume that the currency pair is forming a rising wedge pattern that usually implies a