CAD/JPY: Waiting For Accumulation Phase Breakout

CAD/JPY M30 had formed a double bottom (skewed one). At the moment, price is on GANN 180 degree level (86.86). Critical level to form and seems to establish an accumulation phase. Seller losing power and buyers gradually taking over. Buyer influence would be reflected on break out of GANN angle 180 degrees (86.86). Once it breaks out, go up long and monitor levels as below.

TP Level Price Gann Angle TP1 87.052 200 degree TP2 87.32 225 degree Set initial SL at 86.621 and keep trailing SL.

CAD/JPY 30 Minute Chart

M15 also confluence to formation of accumulation phase.

CAD/JPY 15 Minute Chart

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