The primary trend of CAD/JPY is bearish, In its 4 hourly chart, prices are taking support of rising trend line & consolidating with a negative bias. 30 DMA & 200 DMA are also providing resistance to the prices & supporting the further downtrend. CAD/JPY has breeak the trend line and sustaining below it indicating the downside movement in the prices. If it breaks the level of 94.50 & sustains below it we can expect it to come down to the levels of 93.70/93 in next few days.
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TARGET 93
INDICATORS:-
RSI is sustaining near in selling territory, supporting
the upcoming down trend in the pair.
In MACD
Prices are sustaining below the zero line ,supporting
the down side movement in the market
STRATEGY:-
CAD/JPY
is looking bearish on charts for next few session. One can go for
sell on higher level strategy for this pair for intra day to mid term
positions.
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