02.07.2020
Analysis based on round-number levels, price channels and modified Elliot Waves
The overall trend is downward. The descending (red) pattern is truncated, Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicates an oversold condition. This allows us to suggest that the descending red pattern is the wave B of an ascending H1 level pattern.
CADJPY rate online: monitor the price movement in real time.
Trading recommendations:
Buy when the ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending pattern.
Stop Loss: 78.80.
Target levels: 79.55; 80.00.
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