empty
 
 
24.10.2024 06:33 AM
Technical Analysis of Intraday Price Movement of CAD/JPY Cross Currency Pairs, Thursday October 24, 2024.

This image is no longer relevant

If we look at the 4-hour chart, the CAD/JPY currency pair appears to have a deviation between the price movement of the currency pair and the Stochastic Oscillator indicator, so based on this, in the near future CAD/JPY has the potential to be corrected to weaken to the 109.50 level and as long as the weakening correction does not break through and close below the 108.85 level, then CAD/JPY actually still in a strengthening condition where this is confirmed by the successful breakout of CAD / JPY from the triangle pattern and the emergence of the Bullish 123 pattern followed by several Ross Hook (RH) and the current price movement which is moving above WMA 21 which also has a slope that dives upwards so that it has the potential to make CAD / JPY in the near future after experiencing the weakening correction will actually bring this currency pair to test the level of 110.63 and if this level is successfully penetrated and closes above it then CAD / JPY will head to 111.44 as its main target and if the momentum and volatility support then 112.69 will be the next target.

(Disclaimer)

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback