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03.10.202208:47 Forex Analysis & Reviews: USD/CAD analysis for October 3, 2022 - Breakout of the consolidation area to the upside

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Technical analysis:

USD/JPY has been trading upside in the background and I found the brekaout of the tight balance triangle, which is good sign that market is ready for another upside swing.

Trading recommendation:

Due to the strong upside condition and the breakout of the contraction to the upside, I see potential for further bigger rally towards upside references.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of 145.90, 147 and 147.50.

MACD oscillator is showing fresh upside flow, which is good sign for further upside movement.

Key support is set at the price of 144.20

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