Hi as always I am glad to share with you the technical analysis of a pair, which is not common, but many of you like this exotic pairs the CAD/JPY, hope it will help you, as always this technical analysis is thanks to Instaforex, The Best Broker in Asia,.
The rate rises in the world stock exchanges support the price of the Canadian dollar - Japanese Yen pair, which has been in an upwards trend for a month and a half. A downwards breach lower border will signal the beginning of the movemet southwards and serve as a trigger for a short entry with a drop potential down to the previous low support level of 82.50. On the way down one must be careful of the nearer 83.70 support level, which may serve as a key point for a partial realization of the position.
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