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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

Trading suggestion:

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

DateNovember 6, 2021 - 20:52
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 88.300, resumption of uptrend is expected.
  • We make sure when the resistance at 93.030 breaks.
  • If the support at 88.300 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • A peak is formed in daily chart at 93.01 on 10/21/2021, so more losses to support(s) 90.54, 89.70 and minimum to Major Support (88.30) 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 52.

Supports and Resistances:

  1. 87.45
  2. 86.05
  3. 85.40
  4. 80.55
  5. 79.60
  6. 78.50
  7. 76.75
Click on the level to view price action history.