Bearish CADJPY - 30 October 2024

EURUSD Forex

CADJPY

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 5 Min time frame chart supports CADJPY Bearish bias. A break of 110.130 will support the fall towards the target of 110.055 the break of 110.055 would push the price to 110.005.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 110.14
Support S1: 110.12, S2: 110.1 , S3: 110.08
Resistance R1: 110.16 , R2: 110.18 , R3: 110.2

Summary

Instrument :

CADJPY

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

56%

Entry Level :

110.130

Activation Time :

2024-10-29 22:30

Age :

20 Bars

Progress :

100%

Close Time :

2024-10-30 00:05

Time Frame :

5 Min

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.