Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
CAD/JPY reversed from long-term support level 81.00
2019-11-11 • Updated
- CAD/JPY reversed from long-term support level 81.00
- Next buy target 83.40
CAD/JPY recently reversed up from the powerful, long-term support level 81.00 (which has been steadily reversing the pair from last April and which was set as the sell target in our earlier forecast for this currency pair). The upward reversal from the support level started the active minor corrective wave (iv). CAD/JPY is expected to rise further toward the next buy target at the next resistance level 83.40 (top of wave (ii)).
Similar
USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
Eyes on Bank of Canada's decision today
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
Latest news
USD: Powell Speaks on Cutting Interest Rates
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
