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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (77.90 to 77.60). 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 (77.90)
    • Support on 06/24/2016
    • Support on 06/28/2016
    • Support on 07/05/2016
    • Support on 07/06/2016
    • Support on 08/01/2016
    • Support on 08/12/2016
    • Support on 08/15/2016
    • Support on 08/16/2016
    • Support on 08/17/2016
    • Support on 08/18/2016
    • Support on 09/12/2016
    • Resistance on 09/21/2016
    • Resistance on 09/29/2016
    • Support on 10/05/2016
    • Support on 10/11/2016
    • Support on 10/13/2016
    • Support on 10/25/2016
    • Support on 10/26/2016
    • Support on 10/27/2016
    • Support on 10/28/2016
    • Support on 10/31/2016
    • Resistance on 11/02/2016
    • Support on 11/08/2016
    • Support on 11/09/2016
    • Support on 01/03/2019
    • Resistance on 03/13/2020
    • Resistance on 03/16/2020
    • Resistance on 03/20/2020
    • Resistance on 03/27/2020
    • Resistance on 04/07/2020
    • Resistance on 04/08/2020
    • Resistance on 04/09/2020
    • Resistance on 04/13/2020
    • Support on 06/12/2020
    • Support on 07/30/2020
    • Support on 07/31/2020
    • Support on 10/29/2020
  • Ending of entry zone (77.60)
    • Support on 06/24/2016
    • Support on 06/27/2016
    • Support on 06/28/2016
    • Support on 07/06/2016
    • Support on 08/09/2016
    • Support on 08/16/2016
    • Support on 08/18/2016
    • Support on 08/19/2016
    • Support on 08/25/2016
    • Support on 09/12/2016
    • Support on 09/13/2016
    • Resistance on 09/16/2016
    • Resistance on 09/19/2016
    • Resistance on 09/21/2016
    • Resistance on 09/22/2016
    • Resistance on 09/29/2016
    • Resistance on 10/03/2016
    • Support on 10/10/2016
    • Support on 10/21/2016
    • Support on 11/01/2016
    • Support on 11/07/2016
    • Support on 11/09/2016
    • Support on 01/03/2019
    • Resistance on 03/20/2020
    • Support on 03/26/2020
    • Resistance on 04/06/2020
    • Resistance on 04/10/2020
    • Resistance on 04/14/2020
    • Resistance on 05/19/2020
    • Resistance on 05/20/2020
    • Support on 07/31/2020

DateJune 7, 2021 - 10:30
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 88.300 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI resistance #1 at 74 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 89.85 on 05/26/2021, so more gains to resistance(s) 91.65, 96.10, 101.10 and more heights 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 60.

Take Profits:

  1. 79.60
  2. 80.55
  3. 81.75
  4. 83.25
  5. 84.75
  6. 88.45
  7. 91.65
Click on the level to view price action history.