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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.
DateApril 18, 2020 - 20:57
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 79.400, resumption of downtrend is expected.
  • We make sure when the support at 73.850 breaks.
  • If the resistance at 79.400 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
  • A trough is formed in daily chart at 75.90 on 04/16/2020, so more gains to resistance(s) 78.50 and maximum to Major Resistance (79.40) 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 46.

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.
Symbol Released Current Forecast
Canadian Dollar / Japanese Yen (CADJPY) Sun, 14 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sat, 6 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Mon, 1 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 31 Mar 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on CADJPY.