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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.

DateMarch 6, 2022 - 16:36
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 87.570, resumption of uptrend is expected.
  • We make sure when the resistance at 93.020 breaks.
  • If the support at 87.570 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 91.96 on 03/03/2022, so more losses to support(s) 89.90, 88.41 and minimum to Major Support (87.57) 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. 87.57
  2. 80.55
  3. 79.60
  4. 78.50
  5. 76.75
Click on the level to view price action history.