RECOMMENDATION : SELL
TARGET 93
Technical Analysis:
The major trend of CAD/JPY is bearish, In its 4 hourly
chart, prices are taking support of rising trend line &
consolidating with a negative bias. 30 DMA & 200 DMA are also
providing resistance to the prices & supporting the further
downtrend. CAD/JPY has break the trend line and sustaining below it
indicating the downside movement in the prices. If it breaks the
level of 94.50 & sustains below it we can expect it to come down
to the levels of 93.70/93 in next few days.
Indicators:-
RSI is sustaining near in selling territory, supporting
the upcoming down trend in the pair.
In MACD
Prices are sustaining below the zero line ,supporting
the down side movement in the market
 |
| Technical Chart |
Strategy:-
CAD/JPY
is looking bearish on charts for next few session. One can go for
sell on higher level strategy for this pair for intra day to mid term
positions.
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