canadian dollar / japanese yen
approaching this week the cad.jpy presented textbook multi-timeframe technicals and healthy reward comparative to risk, placing this #1 on my currency trade watchlist.
the daily ascending wedge , 4-hour ascending trendline and 50ema breach were confirmed on monday, 04 march 2019, this allowed me to place alerts awaiting a consolidation period.
price continued to accelerate into tuesday and wednesday, breaching the intraday 83.60 horizontal support without presenting a pullback.
today, the intraday timeframes are indecisive as the 4-hour rsi enters oversold, this indicates a consolidation period is highly probable.
the cad.jpy continues to remain on my active trade watchlist while the risk/reward exceeds 1:2