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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (78.40 to 78.00). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (78.40)
    • Support on 06/24/2016
    • Support on 06/29/2016
    • Resistance on 07/07/2016
    • Resistance on 07/11/2016
    • Resistance on 08/15/2016
    • Resistance on 08/16/2016
    • Resistance on 08/17/2016
    • Resistance on 08/18/2016
    • Resistance on 08/19/2016
    • Resistance on 08/26/2016
    • Support on 10/14/2016
    • Support on 10/20/2016
    • Resistance on 10/24/2016
    • Resistance on 10/25/2016
    • Resistance on 10/26/2016
    • Resistance on 10/31/2016
    • Resistance on 11/01/2016
    • Support on 11/10/2016
    • Support on 11/11/2016
    • Support on 01/03/2019
    • Support on 08/26/2019
    • Support on 03/06/2020
    • Resistance on 03/13/2020
    • Resistance on 03/25/2020
    • Resistance on 03/26/2020
    • Resistance on 05/27/2020
    • Resistance on 05/28/2020
    • Resistance on 05/29/2020
    • Support on 06/15/2020
    • Support on 06/18/2020
    • Support on 06/19/2020
    • Support on 06/23/2020
    • Support on 06/24/2020
    • Support on 06/25/2020
    • Support on 07/10/2020
    • Support on 07/27/2020
    • Support on 07/28/2020
    • Support on 07/29/2020
    • Support on 09/22/2020
    • Support on 09/24/2020
  • Ending of entry zone (78.00)
    • Support on 06/24/2016
    • Support on 07/05/2016
    • Support on 07/06/2016
    • Support on 07/12/2016
    • Support on 07/29/2016
    • Resistance on 08/02/2016
    • Resistance on 08/08/2016
    • Resistance on 08/09/2016
    • Resistance on 08/23/2016
    • Support on 09/12/2016
    • Resistance on 10/04/2016
    • Support on 10/11/2016
    • Support on 10/12/2016
    • Support on 10/13/2016
    • Support on 10/25/2016
    • Support on 10/26/2016
    • Support on 10/27/2016
    • Support on 10/28/2016
    • Support on 11/08/2016
    • Support on 11/09/2016
    • Support on 01/03/2019
    • Resistance on 03/13/2020
    • Resistance on 03/16/2020
    • Resistance on 03/20/2020
    • Resistance on 03/27/2020
    • Resistance on 04/07/2020
    • Resistance on 04/09/2020
    • Resistance on 05/26/2020
    • Support on 06/01/2020
    • Support on 06/12/2020
    • Support on 07/30/2020

DateOctober 24, 2020 - 21:25
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 78.00, beginning of uptrend is expected.
  • We make sure when the resistance at 81.75 breaks.
  • If the support at 78.00 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 80.50 on 10/20/2020, so more losses to support(s) 79.60, 78.40 and 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.

Take Profits:

  1. 79.60
  2. 80.55
  3. 81.75
  4. 83.25
  5. 84.75
  6. 88.45
  7. 91.65
Click on the level to view price action history.