Bullish CADJPY - 01 May 2025 - Technical Analysis

EURUSD Forex

CADJPY

Bullish Closed

Charts by TradingView

A Price Action Ascending Triangle pattern formation on the 4 Hour time frame chart supports CADJPY Bullish bias. A break of 104.310 will support the rise towards the target of 105.255 the break of 105.255 would push the price to 105.885.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 108.403
Support S1: 108.346, S2: 108.283 , S3: 108.226
Resistance R1: 108.466 , R2: 108.523 , R3: 108.586

Brokers

Open account

Summary

Instrument :

CADJPY

Direction :

Bullish

Pattern Name :

Ascending Triangle

Probability :

61%

Entry Level :

104.310

Activation Time :

2025-05-01 05:00

Age :

284 Bars

Progress :

100%

Close Time :

2025-05-01 17:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

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Ascending Triangle

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trend line to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.