CAD/JPY 1D Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Canadian Dollar is depreciating against the Japanese Yen in a channel down pattern on the daily chart since April. Both pattern's lines have been confirmed twice during the last three month period. The currency exchange rate, at the moment, is moving ascending at 80.30 towards the upper pattern's trend line at 81.45, which is strengthened by the weekly R2 at 81.14. However, on its way up the pair is struggling with the monthly pivot point at 80.33. In addition, the aggregate technical indicators forecast no change for the exchange rate today. In the meantime, SWFX traders are bullish on the pair, as 65% of open positions are long.
© Dukascopy Bank SA
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Wed, 13 Jul 2016 11:15:38 GMT

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