You can see a clear Bearish divergence, and a long red candle, which indicate that its time to short CAD, also JAPANESE YEN CURRENCY INDEX is down and CANADIAN DOLLAR CURRENCY INDEX is up.
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (87.12).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (89.68).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (90.90).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as...
CADJPY has been on the bull run for the past 3 days. this may be the time that we can short this pair and close our longs in it.
It has strong resistance at this point. So, we will be taking a short if and only if prices close below this resistance level and follow the next day the downtrend.
So maybe tomorrow we will be taking the short for the target of 77.700...
CADJPY has been gaining since the last three days and finally hit the resistance region of 76.600.
It's showing that there might be a corrective wave till 75.200 levels before any further upward momentum is gained again IF today prices remain and close below 76.289.
It's a great short opportunity if we wait for a confirmation today and will be going short if THIS...
