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Trend Hunter performance since 2015 for this symbol

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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.

DateSat, 12/22/2018 - 16:50
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 84.25 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • The RSI resistance #1 at 35 is broken, so the probability of continuation of downtrend is decreased.
  • A peak is formed in daily chart at 85.25 on 12/13/2018, so more losses to support(s) 80.55, 79.60, 78.80 and more depths 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 23.

Supports and Resistances:

  1. 91.65
  2. 88.45
  3. 87.45
  4. 86.30
  5. 85.65
  6. 84.25
  7. 83.50
  8. 82.15
  9. 80.55
  10. 79.60
  11. 78.80
  12. 75.40
  13. 72.15
  14. 68.85
Click on the level to view price action history.