From TradingView · · 50s
CADJPY Hits September Ceiling
CADJPY retests September resistance as short-term sell signal emerges.
In brief
CADJPY retests September resistance as short-term sell signal emerges. CADJPY is testing the September resistance level at 112.60-112.90 with a potential sell signal for traders. Originally reported by TradingView.
CADJPY breaks three-week box
CADJPY broke out of its three-week box on Monday, pushing through 111.80 and trading around 112.50.
September ceiling resistance
CADJPY is running straight into the September ceiling at 112.60-112.90 with a lower high and 50 MA.
Weekly pattern
Weekly price dropped from above 115.40 to 110.20 in September with a bearish MACD cross.
Daily pattern
Daily price stalled at 112.90 then dropped to 110.17 before basing between 110.40 and 111.80.
4H pattern
Six of last seven 4H candles are green with RSI above 70 and price stretched above 20 MA.
Sell zone
Sell zone at 112.60-112.90 with trigger for 1H rejection inside the zone.
The bottom line
CADJPY is testing the September resistance level at 112.60-112.90 with a potential sell signal for traders.
