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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 (81.30 to 80.55). 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 (81.30)
    • Support on 03/05/2018
    • Support on 03/07/2018
    • Support on 03/15/2018
    • Support on 03/22/2018
    • Support on 12/27/2018
    • Trough on 01/14/2019
    • Support on 01/14/2019
    • Support on 01/15/2019
  • Ending of entry zone (80.55)
    • Support on 04/21/2017
    • Support on 05/18/2017
    • Trough on 03/19/2018
    • Support on 03/19/2018
DateMarch 17, 2019 - 19:18
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 82.200, beginning of uptrend is expected.
  • We make sure when the resistance at 85.250 breaks.
  • If the support at 82.200 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
  • A peak is formed in daily chart at 84.03 on 03/15/2019, so more losses to support(s) 83.50 and minimum to Major Support (82.20) 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 51.

Take Profits:

  1. 82.20
  2. 83.50
  3. 84.25
  4. 85.25
  5. 86.30
  6. 86.95
  7. 88.45
  8. 89.25
  9. 91.65
Click on the level to view price action history.
Symbol Released Current Forecast
Canadian Dollar / Japanese Yen (CADJPY) new Sun, 21 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 14 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sat, 6 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Mon, 1 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 31 Mar 2024
History
Daily-Trading-Opportunities on CADJPY.