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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMarch 28, 2020 - 19:09
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 79.200, resumption of downtrend is expected.
  • We make sure when the support at 73.850 breaks.
  • If the resistance at 79.200 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 78.50 on 03/25/2020, so more losses to support(s) 76.75, 75.40 and minimum to Major Support (73.85) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 45.

Supports and Resistances:

  1. 91.65
  2. 88.45
  3. 86.30
  4. 81.55
  5. 78.50
  6. 76.75
  7. 75.40
Click on the level to view price action history.