CAD/JPY - Canadian Dollar to Japanese Yen

Sellers on the USDCAD had a great chance to start a new strong downswing. Unfortunately for those that were expecting that, they failed to break the long-term up trendline and most probably, now they will have to pay the price for that. Long-term sentiment here is negative. It was created in the first half of … Continue reading USDCAD Should Give us a Nice Signal Soon

USDCAD broke below the bottom trend line at 1.3435 of the price channel on its daily chart, suggesting that the uptrend started from the January 31 low of 1.2968 had completed at the May 5 high of 1.3793 already. On the Downside The USDCAD pair is expected to find its first support at the bottom … Continue reading USD/CAD Broke below Channel Support

USD/CAD With the three-week old descending trend-line, coupled with 50-day SMA, restricting the USDCAD’s near-term advances around 1.3495 – 1.3500, the pair becomes more likely to re-test four-month long upward slanting TL, near 1.3390, if Canadian GDP matches 0.3% forecast. Given the pair drops below 1.3390 on a daily closing basis, the 1.3350 and the … Continue reading Important CAD Pairs’ Technical Overview: 31.05.2017

USD/JPY Although USDJPY’s recovery from 108.30-35 support-zone presently helps the pair to meet seven-week high, the 113.20-30 resistance-confluence, comprising 100-day SMA & upper-line of near-term descending trend-channel, seems a tough nut to crack as the RSI is also near the overbought levels. As a result, pair’s pullback to 112.30 and then to the 50-day SMA … Continue reading Important JPY Pairs’ Technical Outlook: 04.05.2017