First support appears to be 90.50, second support is 89.70 and third and strongest support is 87.50.
As to resistance: 92.20; 93.10; and third and strongest is the 200SMA at 95.00.
Chart: CAD/JPY D1
Tuesday, December 8, 2015
CAD/JPY Broken Triangle
The pair breached the support level yesterday by trading significantly below the triangle formed on the daily chart. With price below critical support, CAD/JPY might attempt to go for lower levels, targeting the 87.50-87 price range.
First support appears to be 90.50, second support is 89.70 and third and strongest support is 87.50.
As to resistance: 92.20; 93.10; and third and strongest is the 200SMA at 95.00.
Chart: CAD/JPY D1
First support appears to be 90.50, second support is 89.70 and third and strongest support is 87.50.
As to resistance: 92.20; 93.10; and third and strongest is the 200SMA at 95.00.
Chart: CAD/JPY D1
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Great analysis, I will keep it in mind!
ReplyDeleteGreat take on markets today.
ReplyDeleteVery informative, thanks!
ReplyDeleteWell spotted! Thanks for sharing it.
ReplyDeleteNicely spotted, thank you.
ReplyDeleteThanks for the analysis.
ReplyDeleteExcellent analysis. Thanks for sharing.
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