CAD/JPY Sell Trade Forecast By Munyaradzi E. Zvavanyange, Independent Investment Analyst 13/09/2018; 10:54pm A bearish moment seems inevitable for the CAD/JPY PAIR, which is nearing the resistance zone, marked with a red horizontal line (86.46) and green rectangle. The price is also testing a descending trendline, signifying an overall bearish bias on the 4-hour timeframe.
Looking at the weekly timeframe, we can see the source of the descending trendline, as the market squeezes through a symmetrical triangle pattern, as shown below;
The Stochastic oscillator is heavily overbought on both the 4-hour and 1-hour timeframes, signaling a win for the bears on this one. H4 Stochastic Oscillator
H1 Stochastic Oscillator
Wish you all the bears.
The CAD/JPY currency pair is testing the descending trendline and we might see a possible reversal.