Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- CADJPY Trade Idea

CAD/JPY  gained sharply on board-based Yen weakness. It hits an high of 104.86 at the time of writing and is currently trading around 103.42.

Technical Analysis

CAD/JPY is currently trading above the 34- and 55-EMA on the 4-hour chart. The immediate resistance is at 105; a breach above this level could shift targets to 106/107/108.25. On the lower side, near-term support is at 103.90 and a break below this support could lead to declines toward 103.40/103/102.50/10.65/101/100.

Indicator Trends

 CCI (50)- Bullish

ADX (14)- Bullish

Trading Strategy Recommendation

It is good to buy on dips around 103.90 with a stop-loss at 103 and a target price of 107.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.