24.10.202406:33 Forex-elemzések és áttekintések: Technical Analysis of Intraday Price Movement of CAD/JPY Cross Currency Pairs, Thursday October 24, 2024.

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.

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