FxWirePro: CAD/JPY bears constantly maintain 21EMA as stiff resistance to slide through sloping channel – One touch binaries to speculate

We could still foresee weakness in CADJPY when we consider the intermediate and long term trend of this pair.

The downswings on weekly graphs have been consistently testing resistance at 21EMA.

These downswings are also sliding through the sloping channel.

One can easily spot out the bearish appearances on daily charts as well as it has drifted below DMAs and 21DMA crosses-over 7DMA.

In addition to that, as the pair has managed to break 79.220 levels and the leading indicators on daily are converging the on-going dips that would suggest momentum is intensified in these downswings.

On a broader perspective, MACD has been evidencing major bear trend remaining below zero levels.

Contemplating intraday bearish sentiments, we recommend on pure speculation basis buying one touch binary puts in order to extract maximum leverage for extended profitability.

One can give the leveraging touch to your returns expectation if underlying pair keeps dipping by employing At-The-Money binary delta puts. But do remember these are exclusively for speculative basis.