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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.

DateJune 20, 2020 - 21:32
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 78.000, continuation of uptrend is expected.
  • We make sure when the resistance at 81.750 breaks.
  • If the support at 78.000 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 38 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 81.90 on 06/05/2020, so more losses minimum to Major Support (78.00) 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 49.

Supports and Resistances:

  1. 91.65
  2. 88.45
  3. 86.30
  4. 78.00
  5. 76.75
  6. 75.40
Click on the level to view price action history.