Disclaimer on,
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
After previously successfully forming and breaking the Descending Broadening Wedge pattern, the CADJPY currency pair showed a strengthening to the 90.36x level and made a correction which was stopped at the Fibonacci Retracement 50 ratio area.
After touching this level, the currency pair seems to be strengthening again to continue its bullish trend.
The target of strengthening that will be touched at least at the 91.1xx level which is the 161.8 Fibonacci Retracement ratio which is also a classic resistance area.
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
After previously successfully forming and breaking the Descending Broadening Wedge pattern, the CADJPY currency pair showed a strengthening to the 90.36x level and made a correction which was stopped at the Fibonacci Retracement 50 ratio area.
After touching this level, the currency pair seems to be strengthening again to continue its bullish trend.
The target of strengthening that will be touched at least at the 91.1xx level which is the 161.8 Fibonacci Retracement ratio which is also a classic resistance area.