CADJPY: double downwards figure -13:50 (CET)

23 November 2009 @ 08:10 am EDT

The triangle is forming on the pair and it could exit in any direction. If it decides to go short, the first target will be 80.664. If it breaks it, it could stop at 78.777. Above, breaking 86.395 will meet with 88.316 and finally 90.305. It's more likely it will go below, as there is also a head and shoulders pattern that started to form in June.

Copyright 2009, Advanced Currency Markets SA, Forex Broker, All Rights Reserved

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