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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.

DateMay 20, 2018 - 20:39
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of uptrend.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 86.80 on 05/17/2018, so more losses to support(s) 85.45, 84.25, 83.50 and more depths is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 59.